Social Security Guarantee Act of 2022

Summary

Social Security Guarantee Act of 2022 This bill requires the Department of the Treasury to issue certificates to Social Security beneficiaries that guarantee them the full monthly benefit amount to which they are entitled and at least an annual cost-of-living increase to their benefits. It also provides additional mandatory funding for those benefits. Currently, Social Security beneficiaries are entitled to their benefits, but benefits are primarily funded through a payroll tax (including assets derived from the tax held in reserve). Actuarial projections reported by the Social Security Board of Trustees indicate that in 2035 there will be insufficient tax revenue and reserved assets to cover the full amount of benefit payments.

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Timeline

1. 3 May 2022

   Referred

   Referred to the Subcommittee on Social Security.

   Source: Committee

2. 3 May 2022

   Introduced

   Referred to the House Committee on Ways and Means.

   Source: IntroReferral

3. 3 May 2022

   Introduced

   Introduced in House

   Source: IntroReferral

4. 3 May 2022

   Introduced

   Introduced in House

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in House · 3 May 2022 · Official file

Documents

3 official files

• Introduced in House (text)

  Introduced in House · EN · 3 May 2022

  ViewDownloadOpen at official source

• Introduced in House (PDF)

  Introduced in House · EN · 3 May 2022

  ViewDownloadOpen at official source

• Introduced in House

  summary · EN · 3 May 2022

  Open at official source

Sponsors

• Alexander Mooney · R · Sponsor
• · hswm00 · Standing

Related records

• related to → Social Security Guarantee Act of 2023