HR 5737
117th Congress
House
Social Welfare
Social Security for Future Generations Act of 2021
Introduced: October 26, 2021
See on congress.gov
Everywhere this bill has been
5 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Oct 28, 2021
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Oct 27, 2021
Referred to the Subcommittee on Health.
Oct 26, 2021
Referred to the Subcommittee on Social Security.
Oct 26, 2021
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and Labor, and Transportation and Infrastructure, 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.
Oct 26, 2021
Introduced in House
Plain-English summary
Social Security for Future Generations Act of 2021
This bill increases specified benefits and taxes related to, and otherwise modifies, the Social Security program.
Changes to benefits include
- increasing the primary insurance amount for certain beneficiaries;
- revising the method for calculating cost-of-living adjustments by using a price index that tracks the spending patterns of older consumers;
- extending benefits through age 22 to full-time students who are eligible children of deceased, disabled, or retired workers;
- establishing a new minimum benefit for certain lifetime low-earners; and
- establishing an alternative benefit based on combined household benefits for widows or widowers in two-income households.
Changes to taxes include subjecting earnings in excess of $250,000 to Social Security payroll taxes. No taxes shall be applied to earnings between the contribution base (the maximum amount subject to the Social Security payroll tax, set at $142,800 for 2021) and $250,000.
The bill preserves eligibility for Supplemental Security Income payments and other means-tested programs, despite any changes to an individual's Social Security benefits under the bill.
What's happening now
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.