Social Security 2100 Act

In today’s world, the lack of income, the busy schedules (both man and woman working full time of more) often do not allow children to tend to their parents as it was often done in the past.

Even though this bill was presented by Democrats, there is a rumor that President Trump may be on board with his support.

H.R.1902

  • 04/05/17 Introduced in House
    Action By: House of Representatives
  • 4 times: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, and Energy and Commerce, 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.
    Action By: House of Representatives
  • 04/07/17 Referred to the Subcommittee on Health.
    Action By: Committee on Energy and Commerce
  • 04/17/2017 Referred to the Subcommittee on Social Security.
    Action By: Committee on Ways and Means

  • Benefit bump for current and new beneficiaries – Provides an increase for all beneficiaries that is the equivalent of 2% of the average benefit. The United States faces a retirement crisis and a modest boost in Social Security benefits strengthens the one leg of the retirement system that that is universal and the most reliable. [Sec. 101]
  • Protection against inflation – Improves the annual cost of living adjustment (COLA) formula to better reflect the costs incurred by seniors through adopting a CPI-E formula.  This provision will help seniors who spend a greater portion of their income on health care and other necessities.  Improved inflation protection will especially help older retirees and widows who are more likely to rely on Social Security benefits as they age.  [Sec. 102]
  • Protect low income workers – No one who paid into the system over a lifetime should retire into poverty.  The new minimum benefit will be set at 25% above the poverty line and would be tied to wage levels to ensure that the minimum benefit does not fall behind.  [Sec. 103]
  • Cut taxes for beneficiaries – Over 12 million Social Security recipients would see a tax cut.  Presently, your Social Security benefits are taxed if you have non-Social Security income exceeding $25,000 for an individual or $32,000 for couples.  This would raise that threshold to $50,000 and $100,000 respectively. [Sec. 104]
  • Holding SSI, Medicaid, and CHIP Beneficiaries Harmless – Ensures that any increase in benefits from the bill do not result in a reduction in SSI benefits or loss of eligibility for Medicaid or CHIP. [Sec. 105]

The Social Security 2100 Act Strengthens the Trust Fund

  • Have millionaires and billionaires pay the same rate as everyone else – Presently, payroll taxes are not collected on wages over $132,900. This legislation would apply the payroll tax to wages above $400,000.  This provision would only affect the top 0.4% of wage earners. [Sec. 201, 202]

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