US Congress House Bill 5747 (Prior Session Legislation)

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Spectrum: Moderate Partisan Bill (Republican 6-1)
Status: Introduced on July 13 2016 - 25% progression, died in committee
Action: 2016-07-22 - Referred to the Subcommittee on Social Security.
Pending: House Subcommittee on Social Security Committee
Text: Latest bill text (Introduced) [PDF]

S.O.S. Act of 2016 This bill amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to increase the contribution and benefit base for 2017 through 2019. The bill revises the computation of primary insurance amounts to include surplus average indexed monthly earnings (AIME) in determining them, adjust surplus earnings for purposes of determining the surplus AIME, and reduce the third bend point factor. The retirement age shall increase past 67 years by certain formulae. Cost-of-living adjustments shall involve the Chained Consumer Price Index for all Urban Consumers published by the Bureau of Labor Statistics of the Department of Labor. The bill formulates a minimum monthly insurance benefit, and establishes an increased benefit for beneficiaries on account of long-term eligibility, starting 20 years after they become eligible for monthly OASDI benefits. The bill revises a certain formula to increase benefit computation years for purposes of calculating primary OASDI insurance amounts. This bill amends the Congressional Budget Act of 1974 to make it out of order in the House of Representatives or the Senate to consider any: budget resolution that sets forth totals for any fiscal year regarding the Social Security Trust Funds that are less than the totals of the Social Security Trust Funds for that fiscal year as calculated in accordance with a current services baseline, or spending or tax legislation that would cause any totals to be less than the Funds totals for the covered fiscal year. The bill declares that this latter point of order shall not apply to Social Security reform legislation.

S.O.S. Act of 2016

Rep. Reid Ribble [R-WI]	Rep. Jim Cooper [D-TN]	Rep. Scott Rigell [R-VA]	Sen. Cynthia Lummis [R-WY]
Rep. Todd Rokita [R-IN]	Rep. Dan Benishek [R-MI]	Rep. Chris Stewart [R-UT]

Date	Chamber	Action
2016-07-22	House	Referred to the Subcommittee on Social Security.
2016-07-13	House	Referred to House Budget
2016-07-13	House	Referred to House Rules
2016-07-13	House	Referred to House Ways and Means
2016-07-13	House	Referred to the Committee on Ways and Means, and in addition to the Committees on Rules, and the Budget, 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.
2016-07-13	House	Introduced in House

Type	Source
Summary	https://www.congress.gov/bill/114th-congress/house-bill/5747/all-info
Text	https://www.congress.gov/114/bills/hr5747/BILLS-114hr5747ih.pdf