118th Congress Social Welfare
S. 393: Social Security Expansion Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases benefits and certain taxes related to the Social Security program.
Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries; (2) revising the method of calculating cost-of-living adjustments; (3) establishing a new minimum benefit for certain low earners; and (4) allowing certain children of retired, deceased, or disabled workers to receive benefits until age 22 if they are a full-time student.
Changes to taxes include (1) increasing the net investment income tax and making active trade or business income subject to this tax; and (2) extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000 (the maximum amount subject to the Social Security payroll tax is currently $160,200 for 2023).
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The bill also combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.
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
- Cory Booker D-NJOriginal
- Kirsten Gillibrand D-NYOriginal
- Edward Markey D-MAOriginal
- Jeff Merkley D-OROriginal
- Alejandro Padilla D-CAOriginal
- Tina Smith D-MNOriginal
- Chris Van Hollen D-MDOriginal
- Sheldon Whitehouse D-RIOriginal
- Elizabeth Warren D-MAOriginal
- Peter Welch D-VT
Who scored on this bill
- 1Bernard Sanders SponsorDrew cross-party cosponsors, introduced2 events+6
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Introductions and cosponsorships count toward weekly caps and show no points.
Other bills by Bernard Sanders
History
- Introduced in the Senate by Bernard Sanders.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.