Social Security Expansion Act

This bill would change Social Security in several ways. It would increase benefits by changing how they are calculated and create a new minimum benefit for low earners. It would also change how cost-of-living adjustments are figured out to better reflect what older people spend money on. The bill would let full-time students who are children of deceased or disabled workers keep getting benefits until age 22 instead of stopping earlier. To help pay for these changes, it would require people earning more than $250,000 to pay Social Security taxes on all their income, and it would increase certain investment taxes. The bill would also combine two separate Social Security trust funds into one fund.

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