S 393
Social Security Expansion Act
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Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Social Security Expansion Act aims to bolster Social Security benefits and ensure the program's long-term financial stability. It proposes an across-the-board benefit increase, adjusts the method for calculating cost-of-living adjustments, establishes a minimum benefit for low-income workers, and extends benefit eligibility for certain students. The bill also increases payroll taxes on higher incomes and broadens the tax base to include net investment income and self-employment income above $250,000. Finally, it consolidates the Social Security Trust Funds.
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