FAIR Social Security Act

Summary

Fair Adjustment and Income Revenue for Social Security Act or the FAIR Social Security Act This bill repeals the cap on the amount of income ($118,500 in 2015) that is subject to the employment or self-employment tax for funding social security benefits. The bill also reallocates employment and self-employment tax revenues to increase Social Security Trust Fund solvency. The Bureau of Labor Statistics of the Department of Labor must prepare and publish an index for each calendar month to be known as the Consumer Price Index for Elderly Consumers that indicates changes in expenditures for consumption that are typical for individuals who are 62 years of age or older. This Index will be used to adjust benefit amounts under the Old Age, Survivors, and Disability Insurance program and Medicare.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

1. 23 April 2015

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

2. 23 April 2015

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.

   Source: IntroReferral

3. 23 April 2015

   Introduced

   Introduced in House

   Source: IntroReferral

4. 23 April 2015

   Introduced

   Introduced in House

   Source: IntroReferral

5. 16 November 2015

   Referred

   Referred to the Subcommittee on Health, Employment, Labor, and Pensions.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 23 April 2015 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 23 April 2015

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 23 April 2015

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 23 April 2015

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  Vertaal document

  Documentvertaling op verzoek met downloadbare PDF (logo + link naar de officiële bron). Het bronbestand blijft leidend.

Sponsors

• Rep. DeFazio, Peter A. [D-OR-4] · D · Sponsor
• Rep. Conyers, John, Jr. [D-MI-13] · D · Sponsor
• Rep. DelBene, Suzan K. [D-WA-1] · D · Sponsor
• Rep. Grijalva, Raúl M. [D-AZ-7] · D · Sponsor
• Rep. Pingree, Chellie [D-ME-1] · D · Sponsor
• Rep. Slaughter, Louise McIntosh [D-NY-25] · D · Sponsor
• Rep. McNerney, Jerry [D-CA-9] · D · Cosponsor
• Rep. Perlmutter, Ed [D-CO-7] · D · Cosponsor
• Rep. Lujan Grisham, Michelle [D-NM-1] · D · Cosponsor
• Rep. Visclosky, Peter J. [D-IN-1] · D · Cosponsor
• Rep. Lee, Barbara [D-CA-12] · D · Cosponsor
• · hsed00 · Standing
• · hswm00 · Standing

Related records

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