Bill > HR5392

This bill, the Social Security Enhancement and Protection Act of 2019, aims to make various reforms to Social Security. The key provisions include: 1. Increasing the special minimum benefit for lifetime low earners based on their years in the workforce. The applicable percentage of the annual dollar amount increases from 36.7% for 11 years of work up to 100% for 30 or more years of work. 2. Establishing an increased benefit for Social Security beneficiaries who have been eligible for a long time, up to 100% more for those eligible for 20 or more years. 3. Extending child's benefits to full-time post-secondary school students under age 26, expanding the definition of a full-time student. 4. Gradually reducing the portion of wages and self-employment income above the Social Security contribution and benefit base that is subject to payroll taxes, from 90% in 2020 down to 0% in 2029 and later. 5. Establishing a new bend point in the benefit formula to provide a 3% credit on average indexed monthly earnings above the contribution and benefit base. 6. Increasing the Social Security payroll tax rates for both employees and employers, as well as the self-employment tax rate, over time. 7. Ensuring that any increases in Social Security benefits from this bill are not counted as income for means-tested federal, state or local programs.