Social Security for Future Generations Act of 2021
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Oct 26, 2021)
Social Security for Future Generations Act of 2021
This bill increases specified benefits and taxes related to, and otherwise modifies, the Social Security program.
Changes to benefits include
- increasing the primary insurance amount for certain beneficiaries;
- revising the method for calculating cost-of-living adjustments by using a price index that tracks the spending patterns of older consumers;
- extending benefits through age 22 to full-time students who are eligible children of deceased, disabled, or retired workers;
- establishing a new minimum benefit for certain lifetime low-earners; and
- establishing an alternative benefit based on combined household benefits for widows or widowers in two-income households.
Changes to taxes include subjecting earnings in excess of $250,000 to Social Security payroll taxes. No taxes shall be applied to earnings between the contribution base (the maximum amount subject to the Social Security payroll tax, set at $142,800 for 2021) and $250,000.
The bill preserves eligibility for Supplemental Security Income payments and other means-tested programs, despite any changes to an individual's Social Security benefits under the bill.
What just happenedOct 28, 2021
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Who’s behind it
- Introduced in HouseOct 26, 2021
- Oct 28, 2021Committee
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
Railroads, Pipelines, and Hazardous Materials Subcommittee - Oct 27, 2021Committee
Referred to the Subcommittee on Health.
Health Subcommittee - Oct 26, 2021Committee
Referred to the Subcommittee on Social Security.
Social Security Subcommittee - Oct 26, 2021IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and Labor, 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.
Transportation and Infrastructure Committee - Oct 26, 2021IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and Labor, 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.
Education and the Workforce Committee - Oct 26, 2021IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and Labor, 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.
Energy and Commerce Committee - Oct 26, 2021IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, Education and Labor, 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.
Ways and Means Committee - Oct 26, 2021IntroReferralIntro-H
Introduced in House
- Oct 26, 2021IntroReferral1000
Introduced in House