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A bill to protect our Social Security system and improve benefits for current and future generations.

USA115th CongressS-2671| Senate 
| Updated: 4/16/2018
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Cosponsors (2)
Kirsten E. Gillibrand (Democratic)Chris Van Hollen (Democratic)

Finance Committee

  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
Social Security 2100 Act This bill increases various Old Age, Survivors, and Disability Insurance (OASDI) benefits and related taxes. The bill increases the primary insurance amount (e.g., the amount a Social Security beneficiary receives if the beneficiary begins receiving benefits at normal retirement age) by increasing the percentage of the beneficiary's average indexed monthly earnings used to calculate the amount. The Bureau of Labor Statistics shall publish a Consumer Price Index for Elderly Consumers, which the Social Security Administration (SSA) shall use to calculate cost-of-living adjustments to benefits. Currently, the SSA uses a price index for wage earners to make such adjustments. The bill increases the minimum benefit amount for individuals who worked for more than 10 years by creating an alternative minimum benefit. A qualifying beneficiary shall receive that alternative minimum if it is higher than the standard calculated benefit amount. The bill increases the income threshold that a beneficiary must reach before Social Security benefits are taxable. Increased benefits from this bill shall not count as income when determining an individual's eligibility or benefit amounts for (1) Medicaid, (2) the Children's Health Insurance Program, or (3) the Supplemental Security Income program. Income above $400,000 shall be included when calculating Social Security benefits and taxes. The bill also increases rates for the payroll and self-employment taxes that fund OASDI. The bill establishes the Social Security Trust Fund, which replaces the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
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Timeline
Apr 17, 2017

Latest Companion Bill Action

HR 115-1902
Referred to the Subcommittee on Social Security.
Apr 16, 2018
Introduced in Senate
Apr 16, 2018
Read twice and referred to the Committee on Finance.
  • April 17, 2017

    Latest Companion Bill Action

    HR 115-1902
    Referred to the Subcommittee on Social Security.


  • April 16, 2018
    Introduced in Senate


  • April 16, 2018
    Read twice and referred to the Committee on Finance.

Social Welfare

Related Bills

  • HR 115-2855: To amend title II of the Social Security Act to enhance Social Security benefits and maintain the commitment and the long-term solvency of the Social Security program.
  • HR 115-1902: To protect our Social Security system and improve benefits for current and future generations.
AgingDisability assistanceEmployment taxesGovernment trust fundsInflation and pricesInterest, dividends, interest ratesSelf-employedSocial security and elderly assistanceWages and earnings

A bill to protect our Social Security system and improve benefits for current and future generations.

USA115th CongressS-2671| Senate 
| Updated: 4/16/2018
Social Security 2100 Act This bill increases various Old Age, Survivors, and Disability Insurance (OASDI) benefits and related taxes. The bill increases the primary insurance amount (e.g., the amount a Social Security beneficiary receives if the beneficiary begins receiving benefits at normal retirement age) by increasing the percentage of the beneficiary's average indexed monthly earnings used to calculate the amount. The Bureau of Labor Statistics shall publish a Consumer Price Index for Elderly Consumers, which the Social Security Administration (SSA) shall use to calculate cost-of-living adjustments to benefits. Currently, the SSA uses a price index for wage earners to make such adjustments. The bill increases the minimum benefit amount for individuals who worked for more than 10 years by creating an alternative minimum benefit. A qualifying beneficiary shall receive that alternative minimum if it is higher than the standard calculated benefit amount. The bill increases the income threshold that a beneficiary must reach before Social Security benefits are taxable. Increased benefits from this bill shall not count as income when determining an individual's eligibility or benefit amounts for (1) Medicaid, (2) the Children's Health Insurance Program, or (3) the Supplemental Security Income program. Income above $400,000 shall be included when calculating Social Security benefits and taxes. The bill also increases rates for the payroll and self-employment taxes that fund OASDI. The bill establishes the Social Security Trust Fund, which replaces the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund.
View Full Text

Suggested Questions

Get AI-generated questions to help you understand this bill better

Timeline
Apr 17, 2017

Latest Companion Bill Action

HR 115-1902
Referred to the Subcommittee on Social Security.
Apr 16, 2018
Introduced in Senate
Apr 16, 2018
Read twice and referred to the Committee on Finance.
  • April 17, 2017

    Latest Companion Bill Action

    HR 115-1902
    Referred to the Subcommittee on Social Security.


  • April 16, 2018
    Introduced in Senate


  • April 16, 2018
    Read twice and referred to the Committee on Finance.
Richard Blumenthal

Richard Blumenthal

Democratic Senator

Connecticut

Cosponsors (2)
Kirsten E. Gillibrand (Democratic)Chris Van Hollen (Democratic)

Finance Committee

Social Welfare

Related Bills

  • HR 115-2855: To amend title II of the Social Security Act to enhance Social Security benefits and maintain the commitment and the long-term solvency of the Social Security program.
  • HR 115-1902: To protect our Social Security system and improve benefits for current and future generations.
  • Introduced
  • In Committee
  • On Floor
  • Passed Chamber
  • Enacted
AgingDisability assistanceEmployment taxesGovernment trust fundsInflation and pricesInterest, dividends, interest ratesSelf-employedSocial security and elderly assistanceWages and earnings