S 1174
Medicare and Social Security Fair Share Act
Take action
Record your position on this measure.
Sign in to record your position, submit testimony, or contact your legislator.
Sign in to take action- Introduced
- Passed Senate
- Passed House
- To President
- Became Law
Bill overview
The Medicare and Social Security Fair Share Act aims to increase funding for the Social Security and Medicare trust funds by expanding the tax base. Specifically, it proposes to extend the payroll tax to cover wages, self-employment income, and investment income exceeding $400,000. Additionally, it introduces a new 1.2% tax on wages above $500,000 for joint filers and $400,000 for other taxpayers, and it modifies the tax treatment of self-employment income and unearned income for high-income earners. Finally, it adjusts the percentage of taxes contributed by the Old-Age and Survivors, Disability, and Hospital Insurance trust funds.
Sponsors
Official sponsors from legislative records.
Primary sponsor
Cosponsors
Dianne Feinstein
Arguments in favor
Reasons to support this legislation.
No arguments in favor have been submitted.
Submit yoursArguments opposed
Reasons to oppose this legislation.
No arguments opposed have been submitted.
Submit yoursRead the latest version inline or switch to a previous version.