119th Congress Social Welfare
S. 2614: Protecting and Preserving Social Security Act
Introduced
- Introduced (completed)
- Passed Senate (not reached)
- Passed House (not reached)
- To the President (not reached)
- Became law (not reached)
Summary
This bill eliminates the cap on income subject to Social Security taxes and revises methods for calculating various aspects of Social Security benefits.
Under current law, Social Security has a taxable maximum, which refers to the maximum amount of a worker's earnings that are subject to Social Security payroll taxes (set at $176,100 in 2025). The taxable maximum also serves as the maximum amount of earnings used to calculate a worker's Social Security benefits.
This bill phases out the taxable maximum so as to apply payroll taxes to all earnings after 2031, and revises the method used to calculate a worker’s Social Security benefits to account for earnings in excess of the taxable maximum.
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The bill also revises the method of calculating cost-of-living adjustments to Social Security benefits to reflect the spending habits of individuals over the age of 62. An increase in Social Security benefits resulting from this change may not be treated as income for purposes of determining eligibility for, or the amount of assistance provided under, the Medicaid or Supplemental Security Income programs.
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
- Jeff Merkley D-OROriginal
- Tina Smith D-MNOriginal
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Other bills by Mazie Hirono
History
- Introduced in the Senate by Mazie Hirono.
Show the full action history (2 actions)
- Introduced in Senate
- Read twice and referred to the Committee on Finance.