118th Congress Social Welfare
H.R. 671: Social Security Enhancement and Protection Act of 2023
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases certain Social Security taxes and benefits.
Under current law, Social Security has a taxable earnings base, which refers to the maximum amount of a worker's earnings that are subject to Social Security payroll taxes (set at $160,200 in 2023). Additionally, the taxable earnings base serves as the maximum amount of earnings used to calculate a worker's Social Security benefits.
This bill gradually increases the Social Security payroll tax rate from 6.2% to 6.5% over six years. It also phases out the taxable earnings base, thereby applying the payroll taxes to a greater amount of a worker's earnings, and revises the method to calculate a worker's Social Security benefits to account for earnings in excess of the taxable earnings base.
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Other changes to benefits include establishing a new method to calculate benefits for lifetime low earners and increasing benefits for certain beneficiaries on account of long-term eligibility. In addition, an eligible child of a retired, disabled, or deceased worker may continue to receive benefits through age 26, provided the child is a full-time student.
Written by the Congressional Research Service, Library of Congress.
Roll calls
No roll call votes have been held on this bill.
Amendments
No amendments were offered to this bill.
Cosponsors
- Janice Schakowsky D-ILOriginal
- Jerrold Nadler D-NY
Who scored on this bill
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Other bills by Gwen Moore
History
- Introduced in the House by Gwen Moore.
Show the full action history (3 actions)
- Referred to the Subcommittee on Social Security.
- Introduced in House
- Referred to the House Committee on Ways and Means.