H.R. 1046In CommitteeSOCIAL WELFARE

Social Security Expansion Act

Accounting and auditing · Congressional oversight · Disability assistance

Sponsor

Rep. Schakowsky, Janice D. [D-IL-9]

D · IL-9

Key facts

Introduced: Feb 14, 2023

Chamber: House

Cosponsors: 37

Congress: 118th

Latest action · Dec 17, 2024

Referred to the Subcommittee on Social Security.

Summary

Social Security Expansion 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 (1) increasing the net investment income tax and making active trade or business income subject to this tax; and (2) extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000 (the maximum amount subject to the Social Security payroll tax is currently $160,200 for 2023).

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.

Summary by Congressional Research Service.

Timeline

Dec 17, 2024
Referred to the Subcommittee on Social Security.
Feb 14, 2023
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, 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.
Feb 14, 2023
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, 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.
Feb 14, 2023
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, 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.
Feb 14, 2023
Introduced in House
Feb 14, 2023
Introduced in House

Cosponsors (showing first 30 of 37)

Rep. Hoyle, Val T. [D-OR-4] D-OR
Rep. Cohen, Steve [D-TN-9] D-TN
Rep. Payne, Donald M., Jr. [D-NJ-10] D-NJ
Rep. Larsen, Rick [D-WA-2] D-WA
Rep. Moore, Gwen [D-WI-4] D-WI
Rep. Bush, Cori [D-MO-1] D-MO
Rep. Lynch, Stephen F. [D-MA-8] D-MA
Rep. Tlaib, Rashida [D-MI-12] D-MI
Rep. Pingree, Chellie [D-ME-1] D-ME
Rep. Napolitano, Grace F. [D-CA-31] D-CA
Del. Norton, Eleanor Holmes [D-DC-At Large] D-DC
Rep. Raskin, Jamie [D-MD-8] D-MD
Rep. Adams, Alma S. [D-NC-12] D-NC
Rep. Bowman, Jamaal [D-NY-16] D-NY
Rep. Nadler, Jerrold [D-NY-12] D-NY
Rep. Pocan, Mark [D-WI-2] D-WI
Rep. Grijalva, Raúl M. [D-AZ-7] D-AZ
Rep. Jayapal, Pramila [D-WA-7] D-WA
Rep. Lee, Barbara [D-CA-12] D-CA
Rep. Jackson Lee, Sheila [D-TX-18] D-TX
Rep. Garcia, Jesus G. "Chuy" [D-IL-4] D-IL
Rep. Ocasio-Cortez, Alexandria [D-NY-14] D-NY
Rep. Carter, Troy [D-LA-2] D-LA
Rep. Khanna, Ro [D-CA-17] D-CA
Rep. Casar, Greg [D-TX-35] D-TX
Rep. McGovern, James P. [D-MA-2] D-MA
Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large] D-MP
Rep. Frankel, Lois [D-FL-22] D-FL
Rep. Scanlon, Mary Gay [D-PA-5] D-PA
Rep. Cárdenas, Tony [D-CA-29] D-CA

In the News

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