Fair Raises for Seniors Act

Summary

Fair Raises for Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to publish for each calendar month a Consumer Price Index for Elderly Consumers (CPI-E) that indicates the average change over time in the prices paid by individuals in the United States who are age 62 and older for a market basket of consumer goods and services. Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to make the CPI-E the applicable Consumer Price Index (CPI) for computation of cost-of-living increases in OASDI benefits for such individuals. Amends the Internal Revenue Code to exclude from wages for purposes of employment and self-employment taxes (under the Federal Insurance Contributions Act [FICA] for OASDI insurance): (1) any remuneration up to $250,000 of the amount of the contribution and benefit base, and (2) only so much of that remuneration that is less than $250,000. Amends SSA title II to include 1% or $1,000 (whichever is less) of surplus average indexed monthly earnings in the determination of primary OASDI amounts.

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Timeline

1. 22 May 2014

   Introduced

   Read twice and referred to the Committee on Finance.

   Source: IntroReferral

2. 22 May 2014

   Introduced

   Introduced in Senate

   Source: IntroReferral

Votes

No vote records are attached yet.

Versions

• Introduced in Senate · 22 May 2014 · Download file

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 22 May 2014

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 22 May 2014

  ViewDownloadOpen at official source

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• Introduced in Senate

  summary · EN · 22 May 2014

  Open at official source

  Leesvertaling

  Vertaal dit document naar jouw taal. PoliticalRepo bewaart geen aparte kopie per EU-taal.

  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

• Sen. Merkley, Jeff [D-OR] · D · Sponsor
• · ssfi00 · Standing

Related records

• related to → Protecting and Preserving Social Security Act
• related to → No Loopholes in Social Security Taxes Act
• related to → Strengthening Social Security Act of 2013
• related to → Scrap the Cap Act
• related to → Protecting and Preserving Social Security Act
• related to → Keeping Our Social Security Promises Act
• related to → Strengthening Social Security Act of 2013