Protecting and Preserving Social Security Act

This bill changes how Social Security taxes and benefits work. Right now, there is a limit on how much of a person's earnings can be 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 earnings and updates the way cost-of-living increases are figured so they better match what people over 62 actually spend their money on. Finally, any extra Social Security money people get because of these changes would not count against them when they apply for Medicaid or Supplemental Security Income benefits.

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