Protecting and Preserving Social Security Act

This bill changes how Social Security taxes and benefits work. Right now, only earnings up to a certain amount (set at $176,100 in 2025) are taxed for Social Security, but this bill would gradually remove that limit so that by 2031, all earnings would be taxed. It also changes how benefits are calculated to account for those higher taxed earnings and adjusts how cost-of-living increases are figured so they better match how people over 62 actually spend their money. Any extra Social Security money people get from these changes would not count against them when qualifying for Medicaid or Supplemental Security Income.

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