US HB2855 | 2017-2018 | 115th Congress

Status

Spectrum: Strong Partisan Bill (Democrat 19-1)
Status: Introduced on June 8 2017 - 25% progression
Action: 2017-06-20 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

Summary

Social Security for Future Generations Act of 2017 This bill amends the Internal Revenue Code and the Social Security Act (SSAct) to apply employment and self-employment taxes to remuneration up to the contribution and benefit base ($127,200 in 2017) and to remuneration in excess of $250,000 beginning in calender years after 2017. Title II (Old Age, Survivor and Disability Insurance [OASDI]) of the SSAct is amended to: (1) include 2% of an individual's excess average indexed monthly earnings (over $250,000 per annum) in the formula for determining primary insurance amounts; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers (CPI-E); (3) provide extended benefit eligibility for children of disabled, retired, or deceased workers who are full-time students; (4) increase the special minimum primary insurance amount for lifetime low-wage workers; and (5) provide an alternate benefit amount for widow's and widower's insurance benefits. The bill preserves eligibility for supplemental security income payments, Medicaid, and the Children's Health Insurance Program (CHIP) by limiting the amount of OASDI payments considered in eligibility determinations.

Tracking Information

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Title

Social Security for Future Generations Act of 2017

Sponsors


History

DateChamberAction
2017-06-20HouseReferred to the Subcommittee on Social Security.
2017-06-09HouseReferred to the Subcommittee on Health.
2017-06-09HouseReferred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2017-06-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, 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.
2017-06-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, 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.
2017-06-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, 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.
2017-06-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, 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.
2017-06-08HouseReferred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, and Energy and Commerce, 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.
2017-06-08HouseIntroduced in House

Same As/Similar To

HB2896 (Related) 2017-06-22 - Referred to the Subcommittee on Social Security.
HB1114 (Related) 2017-03-01 - Referred to the Subcommittee on Social Security.
HB1583 (Related) 2017-03-24 - Referred to the Subcommittee on Social Security.
HB1631 (Related) 2017-03-20 - Referred to the House Committee on Ways and Means.
HB1902 (Related) 2017-04-17 - Referred to the Subcommittee on Social Security.
SB427 (Related) 2017-02-16 - Read twice and referred to the Committee on Finance.
SB2671 (Related) 2018-04-16 - Read twice and referred to the Committee on Finance.

Subjects


US Congress State Sources


Bill Comments

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