Social Security Expansion Act

This bill makes several changes to Social Security. It increases benefits by adjusting how payments are calculated, changes the way cost-of-living increases are figured to better reflect spending by people over age 62, and creates a new minimum benefit for certain low-income workers. It also lets full-time students whose parents are deceased or disabled keep receiving benefits until age 22. To help pay for these changes, the bill applies Social Security payroll taxes to income above $250,000, since right now only the first $176,100 in earnings is taxed, and it increases certain investment-related taxes. The bill also combines the two existing Social Security trust funds into one single fund.

Your Vote