Social Security Stabilization and Enhancement Act

Summary

Social Security Stabilization and Enhancement Act This bill increases benefits and certain taxes related to the Social Security program. Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries; (2) revising the method of calculating cost-of-living adjustments; (3) establishing a new minimum benefit for certain low earners; and (4) allowing certain children of retired, deceased, or disabled workers to receive benefits until age 22 if they are a full-time student. Changes to taxes include increasing the net investment income tax for certain taxpayers and extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000. Under current law, the maximum amount subject to the Social Security payroll tax is $142,800 for 2021. The bill also combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.

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Timeline

1. 10 September 2021

   Introduced

   Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, and Transportation and Infrastructure, 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. 10 September 2021

   Introduced

   Introduced in House

   Source: IntroReferral

3. 10 September 2021

   Introduced

   Introduced in House

   Source: IntroReferral

4. 13 September 2021

   Referred

   Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

   Source: Committee

Votes

No vote records are attached yet.

Versions

• Introduced in House · 10 September 2021 · Download file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 10 September 2021

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 10 September 2021

  ViewDownloadOpen at official source

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• Introduced in House

  summary · EN · 10 September 2021

  Open at official source

  Leesvertaling

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  Vertaal naarNL · DutchDE · GermanFR · FrenchES · SpanishIT · ItalianPL · PolishPT · PortugueseSV · SwedishDA · DanishFI · FinnishEL · GreekCS · CzechHU · HungarianRO · RomanianBG · BulgarianHR · CroatianSK · SlovakSL · SlovenianLT · LithuanianLV · LatvianET · EstonianGA · IrishMT · Maltese

  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
• · hswm00 · Standing
• · hspw00 · Standing
• · hsed00 · Standing

Related records

• related to ← Social Security Expansion Act
• related to ← Social Security Expansion Act