H.R. 2654 · 116th Congress
Strengthening Social Security Act of 2019
- Stage
- In committee
- Sponsor
- Linda Sánchez
- Introduced
- 2019-05-09
- Latest action
- 2019-05-09 · Introduced in House
Summary
Strengthening Social Security Act of 2019
This bill expands benefits, and increases specified taxes, related to the Old-Age, Survivors, and Disability Insurance program.
Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries, (2) calculating cost-of-living adjustments by using a price index that tracks the spending patterns of older consumers, and (3) establishing an alternative benefit for widows or widowers in two-income households.
Changes to taxes include phasing out the cap on earnings subject to the Social Security payroll tax. Under current law, the maximum amount subject to this tax is $132,900.