US HB1114 | 2017-2018 | 115th Congress

Status

Spectrum: Partisan Bill (Democrat 40-0)
Status: Introduced on February 16 2017 - 25% progression, died in committee
Action: 2017-03-01 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Social Security Expansion Act This bill amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) increase the primary insurance amount for all eligible beneficiaries, beginning in 2023; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers; and (3) increase the special minimum primary insurance amount for lifetime low earners based on years in the workforce. This bill amends the Internal Revenue Code to: (1) apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000, and (2) increase the tax rate on investment gain from 3.8% to 10% and allocate specifed amounts of such tax revenue to the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.

Tracking Information

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Title

Social Security Expansion Act

Sponsors


History

DateChamberAction
2017-03-01HouseReferred to the Subcommittee on Social Security.
2017-02-16HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2017-02-16HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2017-02-16HouseReferred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
2017-02-16HouseIntroduced in House

Same As/Similar To

SB427 (Related) 2017-02-16 - Read twice and referred to the Committee on Finance.
HB2896 (Related) 2017-06-22 - Referred to the Subcommittee on Social Security.
HB2855 (Related) 2017-06-20 - Referred to the Subcommittee on Social Security.

Subjects


US Congress State Sources


Bill Comments

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