119th Congress Social Welfare
H.R. 1700: Social Security Expansion Act
Introduced
- Introduced (completed)
- Passed House (not reached)
- Passed Senate (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill increases Social Security benefits, expands Social Security payroll taxes, and makes other changes to the Social Security program.
Specifically, the bill changes the way Social Security benefits are calculated by increasing the primary insurance amount applicable to average monthly earnings that fall below a specified amount, and increasing bend points for individuals who become eligible for Social Security after 2025. (Bend points are dollar amounts at which earnings are segmented for the purpose of calculating an individual’s primary insurance amount. The share of an individual’s earnings that are replaced by Social Security decreases at each escalating bend point.)
The bill also revises the method of calculating cost-of-living adjustments to account for the spending of individuals over the age of 62 and establishes a new minimum benefit for certain low earners. Further, the bill permits full-time students who are the children of deceased or disabled workers to collect Social Security or railroad retirement child’s benefits until they reach age 22.
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With respect to taxes, the bill extends payroll taxes on wages, salaries, and self-employment earnings to income above $250,000. (In 2025, the maximum amount subject to Social Security payroll tax is $176,100.) The bill also increases the net investment income tax and subjects active trade or business income to this tax.
Finally, the bill 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
- Steve Cohen D-TNOriginal
- Judy Chu D-CAOriginal
- Troy Carter D-LAOriginal
- Gregorio Casar D-TXOriginal
- Chris Deluzio D-PAOriginal
- Lois Frankel D-FLOriginal
- Pramila Jayapal D-WAOriginal
- Ro Khanna D-CAOriginal
- James McGovern D-MAOriginal
- Gwen Moore D-WIOriginal
- Jerrold Nadler D-NYOriginal
- Eleanor Norton D-DCOriginal
- Chellie Pingree D-MEOriginal
- Mark Pocan D-WIOriginal
- Delia Ramirez D-ILOriginal
- Janice Schakowsky D-ILOriginal
- Andrea Salinas D-OROriginal
- Rashida Tlaib D-MIOriginal
- Jill Tokuda D-HIOriginal
- Alma Adams D-NC
- Jesús García D-IL
- Stephen Lynch D-MA
- Yassamin Ansari D-AZ
- Maxine Waters D-CA
- Ilhan Omar D-MN
- Melanie Stansbury D-NM
- Alexandria Ocasio-Cortez D-NY
- Mary Scanlon D-PA
- Shri Thanedar D-MI
- Gilbert Cisneros D-CA
- Laura Friedman D-CA
- Valerie Foushee D-NC
- Angie Craig D-MN
- Adelita Grijalva D-AZ
- Summer Lee D-PA
- Timothy Kennedy D-NY
- Julie Johnson D-TX
- Betty McCollum D-MN
- Analilia Mejia D-NJ
- Jahana Hayes D-CT
- John Mannion D-NY
Who scored on this bill
- 1Valerie Hoyle SponsorIntroduced, reached a cosponsor milestone2 events+6
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Other bills by Valerie Hoyle
History
- Introduced in the House by Valerie Hoyle.
Show the full action history (3 actions)
- Introduced in House
- Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Workforce, and Transportation and Infrastructure, 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.
- Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.