Social Security 2100 Act
Latest action · Jan 30, 2019 Read twice and referred to the Committee on Finance.
Progress
Where this bill reached, and when. A stage with no date was not reached; one that failed a vote and later carried shows the date it carried.
- IntroducedJan 30, 2019
- Passed SenateNot reached
- Passed HouseNot reached
- To the PresidentNot reached
- Became lawNot reached
Summary
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.
Cosponsors 1
Members who signed on, in the order they did. All signed on Jan 30, 2019.
| Seat | Cosponsor | Signed on | |
|---|---|---|---|
| D-MD | Chris Van Hollen | Original | Jan 30, 2019 |
Committees 1
Where it was sent and what each committee and subcommittee did with it, in order.
| Chamber | Committee | What it did |
|---|---|---|
| Senate | Finance Committee | Referred Jan 30, 2019 |
Actions 2
Everything that happened, newest first.
- Jan 30, 2019Introduced in Senate
- Jan 30, 2019Read twice and referred to the Committee on Finance.
Research
What has been written about this bill: committee reports, cost estimates, the sponsor’s authority statement, printed hearings and the Congressional Research Service’s work.
CRS reports 3
Congressional Research Service work that CRS links to this bill or the law it became, newest first.
Cite it 3
Products on other subjects that cite it, usually among other measures.
| Product | Title | Kind | Published |
|---|---|---|---|
| RL32896 | Social Security: Raising or Eliminating the Taxable Earnings Base | Report | Dec 22, 2021 |
| R46819 | Social Security: The Effects of Wage and Price Indexing on Benefits | Report | Jun 16, 2021 |
| RL32552 | Social Security: Taxation of Benefits | Report | Jun 12, 2020 |
Related bills 4
Companion bills and other measures the record links to this one.
| Bill | Title | Relationship | Latest action |
|---|---|---|---|
| HR 860 | Social Security 2100 Act | Identical bill | Jan 30, 2019 |
| HR 1170 | Social Security Expansion Act | Related bill | Feb 14, 2019 |
| S 1950 | Strengthen Social Security by Taxing Dynastic Wealth Act | Related bill | Jun 25, 2019 |
| S 2671 | Social Security 2100 Act | Reintroduction of | Apr 16, 2018 |
Titles 2
Every title it has carried, official and short, at each stage.
- Official Title as Introduced
- A bill to protect our Social Security system and improve benefits for current and future generations.
- Short Title(s) as Introduced
- Social Security 2100 Act
Subjects
Assigned by the Library of Congress. Policy area: Social Welfare.
Text 1
Each version as it was printed, newest first.
- Jan 30, 2019Introduced in Senate
Everything here is as published by Congress: the summary is the Congressional Research Service's, the action wording is the clerks', and the subjects are the Library of Congress's. How far it got is read from the actions themselves, taking the most recent one of each kind, so a bill that failed a vote and later passed is shown as having passed. Records come from this bill on Congress.gov and govinfo.gov; cost estimates are the Congressional Budget Office's, and the hearings are the printed hearings GovInfo publishes, which can appear months after the hearing.
