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S 478 116th Congress Senate Social Welfare Accounting and auditing Congressional oversight Disability assistance Elementary and secondary education Employment taxes Financial services and investments Government trust funds Higher education Income tax rates Inflation and prices Railroads Self-employed Social security and elderly assistance Transportation employees

Social Security Expansion Act

Introduced: February 13, 2019 Introduced by: Sanders, Bernard Independent · Vermont See on congress.gov
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 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Feb 13, 2019
Read twice and referred to the Committee on Finance.
Feb 13, 2019
Introduced in Senate
 Plain-English summary Congressional Research Service

Social Security Expansion Act

This bill increases benefits and certain taxes related to Old-Age, Survivors, and Disability Insurance.

Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries; (2) revising the method of calculating cost-of-living adjustments; (3) establishing a new minimum benefit for certain low earners; and (4) allowing certain children of retired, deceased, or disabled workers to receive benefits until age 22 if they are a full-time students.

Changes to taxes include increasing the net investment income tax for certain taxpayers and extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000. Under current law, the maximum amount subject to the Social Security payroll tax is $132,900 for 2019.

The bill also combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.

What's happening now February 13, 2019

Read twice and referred to the Committee on Finance.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3