HR 2855 115th Congress House Social Welfare Child health Employment taxes Health care costs and insurance Higher education Inflation and prices Medicaid Poverty and welfare assistance Self-employed Social security and elderly assistance Wages and earnings

Social Security for Future Generations Act of 2017

Introduced: June 8, 2017 See on congress.gov

Everywhere this bill has been 5 steps

Introduced

In committee

Reported out

Passed House

Passed Senate

To President

Became law

Jun 20, 2017

Referred to the Subcommittee on Social Security.

Jun 9, 2017

Referred to the Subcommittee on Health.

Jun 9, 2017

Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Jun 8, 2017

Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

Jun 8, 2017

Introduced in House

Plain-English summary Congressional Research Service

Social Security for Future Generations Act of 2017

This bill amends the Internal Revenue Code and the Social Security Act (SSAct) to apply employment and self-employment taxes to remuneration up to the contribution and benefit base ($127,200 in 2017) and to remuneration in excess of $250,000 beginning in calender years after 2017.

Title II (Old Age, Survivor and Disability Insurance [OASDI]) of the SSAct is amended to: (1) include 2% of an individual's excess average indexed monthly earnings (over $250,000 per annum) in the formula for determining primary insurance amounts; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers (CPI-E); (3) provide extended benefit eligibility for children of disabled, retired, or deceased workers who are full-time students; (4) increase the special minimum primary insurance amount for lifetime low-wage workers; and (5) provide an alternate benefit amount for widow's and widower's insurance benefits.

The bill preserves eligibility for supplemental security income payments, Medicaid, and the Children's Health Insurance Program (CHIP) by limiting the amount of OASDI payments considered in eligibility determinations.

What's happening now June 20, 2017

Referred to the Subcommittee on Social Security.

Committees of jurisdiction 7