Bill > HR1700

This bill proposes a comprehensive set of changes to the Social Security program aimed at expanding benefits and ensuring its long-term financial stability. The bill includes several key provisions: an across-the-board benefit increase that raises the first bend point percentage from 90% to 95%, a modification to how cost-of-living adjustments are calculated by using the Consumer Price Index for Elderly Consumers (CPI-E) instead of the standard CPI, and an increase in the minimum benefit for long-term low-income workers based on years in the workforce. Additionally, the bill extends Social Security benefit eligibility for children who are full-time students up to age 22, and introduces new tax measures to fund these expansions, including increased payroll taxes on high earners, a tax on self-employment income, and a significant increase in the tax on investment gains. The bill also consolidates the existing Old-Age and Survivors Insurance and Disability Insurance Trust Funds into a single Social Security Trust Fund, streamlining the administrative structure of the program. These changes are designed to provide more comprehensive financial protection for retirees, disabled individuals, and their families while addressing the long-term funding challenges of the Social Security system.

Budget and Finance, Transportation and Infrastructure

https://www.congress.gov/bill/119th-congress/house-bill/1700/all-info