FAIR Social Security Act
Bill journey · stage 2 of 5
Under committee review
What it doesSummary introduced in house (Apr 23, 2015)
Fair Adjustment and Income Revenue for Social Security Act or the FAIR Social Security Act
This bill repeals the cap on the amount of income ($118,500 in 2015) that is subject to the employment or self-employment tax for funding social security benefits. The bill also reallocates employment and self-employment tax revenues to increase Social Security Trust Fund solvency.
The Bureau of Labor Statistics of the Department of Labor must prepare and publish an index for each calendar month to be known as the Consumer Price Index for Elderly Consumers that indicates changes in expenditures for consumption that are typical for individuals who are 62 years of age or older. This Index will be used to adjust benefit amounts under the Old Age, Survivors, and Disability Insurance program and Medicare.
What just happenedNov 16, 2015
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Who’s behind it
- Introduced in HouseApr 23, 2015
- Nov 16, 2015Committee
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Health, Employment, Labor, and Pensions Subcommittee - Apr 23, 2015IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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 - Apr 23, 2015IntroReferralH11100-A
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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.
- Apr 23, 2015IntroReferralH11100
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and the Workforce, 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 - Apr 23, 2015IntroReferralIntro-H
Introduced in House
- Apr 23, 2015IntroReferral1000
Introduced in House