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S 1174 118th Congress Senate Taxation

Medicare and Social Security Fair Share Act

Introduced: April 18, 2023 Introduced by: Whitehouse, Sheldon Democratic · Rhode Island See on congress.gov
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This bill died when the 118th Congress ended
It never became law before the 118th Congress (2023–2024) adjourned, and bills don't carry over to the next Congress. It would have to be reintroduced. You can still save it for reference, but it won't receive updates.
 Everywhere this bill has been 2 steps
Introduced
In committee
Reported out
Passed House
Passed Senate
To President
Became law
Apr 18, 2023
Read twice and referred to the Committee on Finance.
Apr 18, 2023
Introduced in Senate
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 Plain-English summary Congressional Research Service

Medicare and Social Security Fair Share Act

This bill increases funding for the Social Security and Medicare trust funds by extending the payroll tax on wages, self-employment income, and investment income to taxpayers with earnings exceeding $400,000.

The bill also applies a payroll tax on the pass-through business income of taxpayers earning more than $400,000 (thus eliminating the classification of earned income as distributed business profits).

What's happening now April 18, 2023

Read twice and referred to the Committee on Finance.

 Related & companion bills 2
  • HR 4535 Identical bill Medicare and Social Security Fair Share Act
  • HR 34 Related bill Assuring Medicare’s Promise Act of 2023
 Bill text 1 version

Source documents hosted by congress.gov.

 Committees of jurisdiction 1
 Cosponsors 3
All 3 Democratic 3
D
Klobuchar, Amy
Minnesota · Jul 13, 2023
 D
Gillibrand, Kirsten E.
New York · Jun 22, 2023
 D
Van Hollen, Chris
Maryland · Jun 22, 2023
Cite this page click to expand
APA
U.S. Congress. (2026). S. 1174: Medicare and Social Security Fair Share Act. 118th Congress. Open America. https://openamerica.io/bill/118-S-1174/
MLA
"S. 1174: Medicare and Social Security Fair Share Act." 118th Congress, 2026, Open America, https://openamerica.io/bill/118-S-1174/.
Bluebook (legal)
S. 1174, 118th Cong. (2026), https://openamerica.io/bill/118-S-1174/.
Markdown link
[S. 1174: Medicare and Social Security Fair Share Act](https://openamerica.io/bill/118-S-1174/)
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