HR 5392

The Social Security Enhancement and Protection Act of 2019 aims to strengthen Social Security’s long-term solvency by increasing payroll taxes, adjusting the taxable earnings base, and revising benefit calculation methods. Specifically, it gradually raises the payroll tax rate from 6.2% to 6.5% over six years, phases out the taxable earnings base, and establishes a new method for calculating benefits for those with consistently low earnings. The bill also expands eligibility for certain benefits, such as extending a child’s benefit for full-time post-secondary students and increasing benefits for long-term recipients. Finally, it modifies the Internal Revenue Code to better reflect Social Security earnings.