II 

118TH CONGRESS 

2D SESSION S. 5017 

To improve the retirement security of American families by increasing Social 

Security benefits for current and future beneficiaries while making Social 

Security stronger for future generations. 

IN THE SENATE OF THE UNITED STATES 

SEPTEMBER 11, 2024 

Mr. SCHATZ introduced the following bill; which was read twice and referred 

to the Committee on Finance 

A BILL 

To improve the retirement security of American families by 

increasing Social Security benefits for current and future 

beneficiaries while making Social Security stronger for 

future generations. 

1 Be it enacted by the Senate and House of Representa2 tives of the United States of America in Congress assembled, 

3 SECTION 1. SHORT TITLE; TABLE OF CONTENTS. 

4 (a) SHORT TITLE.—This Act may be cited as the 

5 ‘‘Safeguarding American Families and Expanding Social 

6 Security Act of 2024’’. 

7 (b) TABLE OF CONTENTS.—The table of contents for 

8 this Act is as follows: 


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Sec. 1. Short title; table of contents. 

Sec. 2. Determination of taxable wages and self-employment income above contribution and benefit base after 2024. 

Sec. 3. Adjustments to primary insurance amount formula and inclusion of surplus earnings for benefit determinations. 

Sec. 4. Increase in benefit amounts for long-term eligible individuals. 

Sec. 5. Computation of cost-of-living increases for Social Security benefits; consumer price index for elderly consumers. 

Sec. 6. Deemed wages for caregivers of dependent relatives. 

Sec. 7. Increase in minimum benefit for lifetime low earners based on years in 

the workforce. 

Sec. 8. Elimination of disability waiting period for disability insurance benefits 

and surviving spouse benefits. 

Sec. 9. Tax on investment gain. 

Sec. 10. Holding SSI, Medicaid, and CHIP beneficiaries harmless. 

1 SEC. 2. DETERMINATION OF TAXABLE WAGES AND SELF2 EMPLOYMENT INCOME ABOVE CONTRIBU3 TION AND BENEFIT BASE AFTER 2024. 

4 (a) DETERMINATION OF TAXABLE WAGES ABOVE

5 CONTRIBUTION AND BENEFIT BASE AFTER 2024.— 

6 (1) AMENDMENTS TO THE INTERNAL REVENUE

7 CODE OF 1986.—Section 3121 of the Internal Rev8 enue Code of 1986 is amended— 

9 (A) in subsection (a)(1), by inserting ‘‘the 

10 applicable percentage (determined under sub11 section (c)(1)) of’’ before ‘‘that part of the re12 muneration’’; and 

13 (B) in subsection (c), by striking ‘‘(c) IN14 CLUDED AND EXCLUDED SERVICE.—For pur15 poses of this chapter, if’’ and inserting the fol16 lowing: 

17 ‘‘(c) SPECIAL RULES FOR WAGES AND EMPLOY18 MENT.— 


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1 ‘‘(1) APPLICABLE PERCENTAGE OF REMUNERA2 TION IN DETERMINING TAXABLE WAGES.—For pur3 poses of subsection (a)(1), the applicable percentage 

4 for a calendar year shall be equal to— 

5 ‘‘(A) for 2025, 80 percent; 

6 ‘‘(B) for 2026 through 2028, the applica7 ble percentage under this paragraph for the 

8 previous year, decreased by 20 percentage 

9 points; and 

10 ‘‘(C) for 2029 and each year thereafter, 0 

11 percent. 

12 ‘‘(2) INCLUDED AND EXCLUDED SERVICE.—For 

13 purposes of this chapter, if’’. 

14 (2) AMENDMENTS TO THE SOCIAL SECURITY

15 ACT.—Section 209 of the Social Security Act (42 

16 U.S.C. 409) is amended— 

17 (A) in subsection (a)(1)— 

18 (i) in subparagraph (I)— 

19 (I) by inserting ‘‘and before 

20 2025’’ after ‘‘1974’’; and 

21 (II) by inserting ‘‘and’’ after the 

22 semicolon; 

23 (ii) by adding at the end the following 

24 new subparagraph: 


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1 ‘‘(J) The applicable percentage (deter2 mined under subsection (l)) of that part of re3 muneration which, after remuneration (other 

4 than remuneration referred to in the succeeding 

5 subsections of this section) equal to the con6 tribution and benefit base (determined under 

7 section 230) with respect to employment has 

8 been paid to an individual during any calendar 

9 year after 2024 with respect to which such con10 tribution and benefit base is effective, is paid to 

11 such individual during such calendar year;’’; 

12 and 

13 (B) by adding at the end the following new 

14 subsection: 

15 ‘‘(l) For purposes of subsection (a)(1)(J), the applica16 ble percentage for a calendar year shall be equal to— 

17 ‘‘(1) for 2025, 80 percent; 

18 ‘‘(2) for 2026 through 2028, the applicable per19 centage under this subsection for the previous year, 

20 decreased by 20 percentage points; and 

21 ‘‘(3) for 2029 and each year thereafter, 0 per22 cent.’’. 

23 (3) EFFECTIVE DATE.—The amendments made 

24 by this subsection shall apply with respect to remu25 neration paid in calendar years after 2024. 


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1 (b) DETERMINATION OF TAXABLE SELF-EMPLOY2 MENT INCOME ABOVE CONTRIBUTION AND BENEFIT

3 BASE AFTER 2024.— 

4 (1) AMENDMENTS TO THE INTERNAL REVENUE

5 CODE OF 1986.—Section 1402 of the Internal Rev6 enue Code of 1986 is amended— 

7 (A) in subsection (b)(1), by striking ‘‘that 

8 part of the net earnings’’ and all that follows 

9 through ‘‘minus’’ and inserting the following: 

10 ‘‘an amount equal to the applicable percentage 

11 (as determined under subsection (d)(2)) of that 

12 part of the net earnings from self-employment 

13 which is in excess of the difference (not to be 

14 less than zero) between (i) an amount equal to 

15 the contribution and benefit base (as deter16 mined under section 230 of the Social Security 

17 Act) which is effective for the calendar year in 

18 which such taxable year begins, and’’; and 

19 (B) in subsection (d)— 

20 (i) by striking ‘‘(d) EMPLOYEE AND

21 WAGES.—The term’’ and inserting the fol22 lowing: 

23 ‘‘(d) RULES AND DEFINITIONS.— 

24 ‘‘(1) EMPLOYEE AND WAGES.—The term’’; and 


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1 (ii) by adding at the end the fol2 lowing: 

3 ‘‘(2) APPLICABLE PERCENTAGE OF NET EARN4 INGS FROM SELF-EMPLOYMENT IN DETERMINING

5 TAXABLE SELF-EMPLOYMENT INCOME.—For pur6 poses of subsection (b)(1), the applicable percentage 

7 for a taxable year beginning in any calendar year re8 ferred to in such subsection shall be equal to— 

9 ‘‘(A) for 2025, 80 percent; 

10 ‘‘(B) for 2026 through 2028, the applica11 ble percentage under this paragraph for the 

12 previous year, decreased by 20 percentage 

13 points; and 

14 ‘‘(C) for 2029 and each year thereafter, 0 

15 percent.’’. 

16 (2) AMENDMENTS TO THE SOCIAL SECURITY

17 ACT.—Section 211 of the Social Security Act (42 

18 U.S.C. 411) is amended— 

19 (A) in subsection (b)— 

20 (i) in paragraph (1)(I)— 

21 (I) by striking ‘‘or’’ after the 

22 semicolon; and 

23 (II) by inserting ‘‘and before 

24 2025’’ after ‘‘1974’’; 


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1 (ii) by redesignating paragraph (2) as 

2 paragraph (3); and 

3 (iii) by inserting after paragraph (1) 

4 the following: 

5 ‘‘(2) For any taxable year beginning in any cal6 endar year after 2024, an amount equal to the appli7 cable percentage (as determined under subsection 

8 (l)) of that part of net earnings from self-employ9 ment which is in excess of the difference (not to be 

10 less than zero) between— 

11 ‘‘(A) an amount equal to the contribution 

12 and benefit base (as determined under section 

13 230) that is effective for such calendar year, 

14 and 

15 ‘‘(B) the amount of the wages paid to such 

16 individual during such taxable year; or’’; and 

17 (B) by adding at the end the following: 

18 ‘‘(l) For purposes of subsection (b)(2), the applicable 

19 percentage for a taxable year beginning in any calendar 

20 year referred to in such paragraph shall be equal to— 

21 ‘‘(1) for 2025, 80 percent; 

22 ‘‘(2) for 2026 through 2028, the applicable per23 centage under this subsection for the previous year, 

24 decreased by 20 percentage points; and 


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1 ‘‘(3) for 2029 and each year thereafter, 0 per2 cent.’’. 

3 (3) EFFECTIVE DATE.—The amendments made 

4 by this subsection shall apply with respect to taxable 

5 years beginning after calendar year 2024. 

6 SEC. 3. ADJUSTMENTS TO PRIMARY INSURANCE AMOUNT 

7 FORMULA AND INCLUSION OF SURPLUS 

8 EARNINGS FOR BENEFIT DETERMINATIONS. 

9 (a) INCREASE IN PERCENTAGE FACTOR FOR LOWEST

10 PORTION OF EARNINGS USED TO DETERMINE PRIMARY

11 INSURANCE AMOUNTS.—Section 215(a)(1)(A)(i) of the 

12 Social Security Act (42 U.S.C. 415(a)(1)(A)(i)) is amend13 ed by striking ‘‘90 percent’’ and inserting ‘‘95 percent’’. 

14 (b) INCLUSION OF SURPLUS AVERAGE INDEXED

15 MONTHLY EARNINGS IN DETERMINATION OF PRIMARY

16 INSURANCE AMOUNTS.— 

17 (1) IN GENERAL.—Section 215(a)(1)(A) of the 

18 Social Security Act (42 U.S.C. 415(a)(1)(A)) is 

19 amended— 

20 (A) in clauses (i), (ii), and (iii), by insert21 ing ‘‘basic’’ before ‘‘average indexed monthly 

22 earnings’’ each place it appears; 

23 (B) in clause (ii), by striking ‘‘and’’ at the 

24 end; 


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1 (C) in clause (iii), by adding ‘‘and’’ at the 

2 end; and 

3 (D) by inserting after clause (iii) the fol4 lowing new clause: 

5 ‘‘(iv) 5 percent of the individual’s surplus aver6 age indexed monthly earnings,’’. 

7 (2) BEND POINT ADJUSTMENTS.—Section 

8 215(a)(1)(B) of such Act (42 U.S.C. 415(a)(1)(B)) 

9 is amended— 

10 (A) in clause (i), by inserting ‘‘For individ11 uals who initially become eligible for old-age or 

12 disability insurance benefits, or who die (before 

13 becoming eligible for such benefits), in the cal14 endar year 2025, the amount established for 

15 purposes of clause (ii) of subparagraph (A) 

16 shall be $6,300.’’ after the period; 

17 (B) in clause (ii)— 

18 (i) by redesignating subclauses (I) and 

19 (II) as items (aa) and (bb), respectively; 

20 (ii) by striking ‘‘For individuals’’ and 

21 inserting ‘‘(I) Subject to subclause (II), for 

22 individuals’’; and 

23 (iii) by adding at the end the fol24 lowing new subclause: 


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1 ‘‘(II) For individuals who initially become eligi2 ble for old-age or disability insurance benefits, or 

3 who die (before becoming eligible for such benefits), 

4 in any calendar year after 2025, the amount estab5 lished for purposes of clause (ii) of subparagraph 

6 (A) shall equal the product of the amount estab7 lished with respect to calendar year 2025 under 

8 clause (i) of this subparagraph and the quotient ob9 tained by dividing— 

10 ‘‘(aa) the national average wage index (as 

11 defined in section 209(k)(1)) for the second cal12 endar year preceding the calendar year for 

13 which the determination is made, by 

14 ‘‘(bb) the national average wage index (as 

15 so defined) for 2023.’’; 

16 (C) by redesignating clause (iii) as clause 

17 (iv); and 

18 (D) by inserting after clause (ii) the fol19 lowing new clause: 

20 ‘‘(iii) For individuals who initially become eligi21 ble for old-age or disability insurance benefits, or 

22 who die (before becoming eligible for such benefits) 

23 in any calendar year after 2029, the amount deter24 mined under clause (ii) of this subparagraph for 


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1 purposes of subparagraph (A)(i) for such calendar 

2 year shall be increased by— 

3 ‘‘(I) for calendar year 2030, 1 percent; 

4 ‘‘(II) for each of calendar years 2031 

5 through 2043, the percent determined under 

6 this clause for the preceding year increased by 

7 1 percentage point; and 

8 ‘‘(III) for calendar year 2044 and each 

9 year thereafter, 15 percent.’’. 

10 (3) RECOMPUTATION OF BENEFITS FOR EXIST11 ING BENEFICIARIES.—Section 215(f) of the Social 

12 Security Act (42 U.S.C. 415(f)) is amended by add13 ing at the end the following new paragraph: 

14 ‘‘(10) RECOMPUTATION OF PRIMARY INSUR15 ANCE AMOUNT FOR INDIVIDUALS WHO BECAME ELI16 GIBLE FOR BENEFITS BEFORE 2025.— 

17 ‘‘(A) The Commissioner of Social Security 

18 shall recompute the primary insurance amounts 

19 applicable to beneficiaries whose benefits are 

20 based on a primary insurance amount that was 

21 computed under this section effective prior to 

22 January 2025. Such recomputation shall be ef23 fective January 2025. 

24 ‘‘(B) In recomputing the primary insur25 ance amount applicable to a beneficiary under 


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1 this paragraph, the Commissioner of Social Se2 curity shall calculate the primary insurance 

3 amount of the individual under subsection 

4 (a)(1) as in effect on the date that such pri5 mary insurance amount was initially computed, 

6 except that the Commissioner shall substitute 

7 for the amount that applied under subpara8 graph (B)(ii) of such subsection on such date 

9 an amount equal to the product of— 

10 ‘‘(i) the amount that applied under 

11 such subparagraph on such date; and 

12 ‘‘(ii) the ratio of— 

13 ‘‘(I) 6,300; to 

14 ‘‘(II) 6,002. 

15 ‘‘(C) Each amount determined under sub16 paragraph (B) shall be rounded to the nearest 

17 $1, except that any amount so established 

18 which is a multiple of $0.50 but not of $1 shall 

19 be rounded to the next higher $1. 

20 ‘‘(D) If a primary insurance amount appli21 cable to a beneficiary, as recomputed under this 

22 paragraph, is lower than the primary insurance 

23 amount applicable to such beneficiary as it was 

24 originally computed, such higher primary insurVerDate Sep 11 2014 01:23 Sep 19, 2024 Jkt 049200 PO 00000 Frm 00012 Fmt 6652 Sfmt 6201 E:\BILLS\S5017.IS S5017

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1 ance amount shall continue to apply to such 

2 beneficiary.’’. 

3 (c) BASIC AIME AND SURPLUS AIME.— 

4 (1) BASIC AIME.—Section 215(b)(1) of such 

5 Act (42 U.S.C. 415(b)(1)) is amended— 

6 (A) by inserting ‘‘basic’’ before ‘‘average’’; 

7 and 

8 (B) in subparagraph (A), by striking 

9 ‘‘paragraph (3)’’ and inserting ‘‘paragraph 

10 (3)(A)’’ and by inserting before the comma the 

11 following: ‘‘to the extent such total does not ex12 ceed the contribution and benefit base for the 

13 applicable year’’. 

14 (2) SURPLUS AIME.— 

15 (A) IN GENERAL.—Section 215(b)(1) of 

16 such Act (as amended by paragraph (1)) is 

17 amended— 

18 (i) by redesignating subparagraphs 

19 (A) and (B) as clauses (i) and (ii), respec20 tively; 

21 (ii) by striking ‘‘An individual’s’’ and 

22 inserting ‘‘(A) An individual’s’’; and 

23 (iii) by adding at the end the fol24 lowing new subparagraph: 


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1 ‘‘(B)(i) An individual’s surplus average indexed 

2 monthly earnings shall be equal to the quotient obtained 

3 by dividing— 

4 ‘‘(I) the total (after adjustment under para5 graph (3)(B)) of such individual’s surplus earnings 

6 (determined under clause (ii)) for such individual’s 

7 benefit computation years (determined under para8 graph (2)), by 

9 ‘‘(II) the number of months in those years. 

10 ‘‘(ii) For purposes of clause (i) and paragraph (3)(B), 

11 an individual’s surplus earnings for a benefit computation 

12 year are the total of such individual’s wages paid in and 

13 self-employment income credited to such benefit computa14 tion year, to the extent such total (before adjustment 

15 under paragraph (3)(B)) exceeds the contribution and 

16 benefit base for such year.’’. 

17 (B) CONFORMING AMENDMENT.—The 

18 heading for section 215(b) of such Act is 

19 amended by striking ‘‘Average Indexed Monthly 

20 Earnings’’ and inserting ‘‘Basic Average In21 dexed Monthly Earnings; Surplus Average In22 dexed Monthly Earnings’’. 

23 (3) ADJUSTMENT OF SURPLUS EARNINGS FOR

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1 tion 215(b)(3) of such Act (42 U.S.C. 415(b)(3)) is 

2 amended— 

3 (A) in subparagraph (A)— 

4 (i) by striking ‘‘subparagraph (B)’’ 

5 and inserting ‘‘subparagraph (C)’’; and 

6 (ii) by inserting ‘‘and determination of 

7 basic average indexed monthly income 

8 under paragraph (1)(A)’’ after ‘‘paragraph 

9 (2)’’; 

10 (B) by redesignating subparagraph (B) as 

11 subparagraph (C); and 

12 (C) by inserting after subparagraph (A) 

13 the following new subparagraph: 

14 ‘‘(B) For purposes of determining under paragraph 

15 (1)(B) an individual’s surplus average indexed monthly 

16 earnings, the individual’s surplus earnings for a benefit 

17 computation year shall be deemed to be equal to the prod18 uct of— 

19 ‘‘(i) the individual’s surplus earnings for such 

20 year (as determined without regard to this subpara21 graph), and 

22 ‘‘(ii) the quotient described in subparagraph 

23 (A)(ii).’’. 

24 (d) EFFECTIVE DATE.—The amendments made by 

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1 tially become eligible (within the meaning of section 

2 215(a)(3)(B) of the Social Security Act) for old-age or dis3 ability insurance benefits under title II of the Social Secu4 rity Act, or who die (before becoming eligible for such ben5 efits), in any calendar year after 2029. 

6 SEC. 4. INCREASE IN BENEFIT AMOUNTS FOR LONG-TERM 

7 ELIGIBLE INDIVIDUALS. 

8 (a) IN GENERAL.—Section 202 of the Social Security 

9 Act (42 U.S.C. 402) is amended by adding at the end the 

10 following new subsection: 

11 ‘‘(aa) INCREASE IN BENEFIT AMOUNTS FOR LONG12 TERM ELIGIBLE INDIVIDUALS.— 

13 ‘‘(1) IN GENERAL.—The amount of a monthly 

14 benefit which is payable to an individual for a month 

15 under subsections (a) through (h) or section 223(a) 

16 (as determined without regard to this subsection) 

17 shall be increased by 5 percent if the individual is 

18 a long-term eligible individual during any part of 

19 such month. 

20 ‘‘(2) LONG-TERM ELIGIBLE INDIVIDUAL DE21 FINED.— 

22 ‘‘(A) IN GENERAL.—The term ‘long-term 

23 eligible individual’ means an individual who— 


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1 ‘‘(i) is entitled to a monthly benefit 

2 under subsections (a) through (h) or sec3 tion 223(a); and 

4 ‘‘(ii) has attained 82 years of age or 

5 240 benefit months (as defined in subpara6 graph (B)), whichever is earlier. 

7 ‘‘(B) BENEFIT MONTH.— 

8 ‘‘(i) IN GENERAL.—For purposes of 

9 subparagraph (A), the term ‘benefit 

10 month’ means a month for which an indi11 vidual— 

12 ‘‘(I) has attained age 19; and 

13 ‘‘(II) is entitled to a monthly 

14 benefit under subsections (a) through 

15 (h) of section 202 or section 223(a). 

16 ‘‘(ii) EXCLUSIONS.—Such term ex17 cludes any month in which an individual 

18 is— 

19 ‘‘(I) entitled to a benefit under 

20 this section or section 223(a) that is 

21 not payable or reduced to zero by ap22 plication of subsection (k), (n), (t), 

23 (u), (v), or (x) of this section; or 

24 ‘‘(II) subject to a penalty under 

25 section 1129A. 


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1 ‘‘(3) DISREGARD OF INCREASE FOR PURPOSES

2 OF FAMILY MAXIMUM.—The amount of any increase 

3 under this subsection to a monthly benefit amount 

4 of a long-term eligible individual shall be disregarded 

5 for purposes of applying section 203(a).’’. 

6 (b) CONFORMING AMENDMENTS.— 

7 (1) Section 202 of the Social Security Act (42 

8 U.S.C. 402) is amended— 

9 (A) in subsection (a), by striking ‘‘sub10 section (q) and subsection (w)’’ and inserting 

11 ‘‘subsections (q), (w), and (aa)’’; 

12 (B) in subsections (b)(2) and (c)(2), by 

13 striking ‘‘subsections (k)(5) and (q)’’ and in14 serting ‘‘subsections (k)(5), (q), and (aa)’’; 

15 (C) in subsection (d)(2), by striking ‘‘Such 

16 child’s’’ each place it appears and inserting 

17 ‘‘Subject to subsection (aa), such child’s’’; 

18 (D) in subsections (e)(2)(A) and (f)(2)(A), 

19 by inserting ‘‘subsection (aa),’’ after ‘‘sub20 section (q),’’; 

21 (E) in subsection (g)(2), by striking ‘‘Such 

22 mother’s or father’s’’ and inserting ‘‘Subject to 

23 subsection (aa), such mother’s or father’s’’; and 


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1 (F) in subsection (h)(2)(A), by inserting 

2 ‘‘subsection (aa) and’’ before ‘‘subparagraphs 

3 (B) and (C)’’. 

4 (2) Section 223(a)(2) of the Social Security Act 

5 (42 U.S.C. 423(a)(2)) is amended— 

6 (A) in the matter preceding subparagraph 

7 (A), by striking ‘‘section 202(q)’’ and inserting 

8 ‘‘subsections (q) and (aa) of section 202’’; and 

9 (B) in subparagraph (B), by striking 

10 ‘‘clause (ii)’’ and inserting ‘‘subdivision (ii) or 

11 (iii) of the matter following subparagraph (E)’’. 

12 (c) EFFECTIVE DATE.—The amendments made by 

13 this section shall apply to benefits payable for months in 

14 any calendar year after 2029. 

15 SEC. 5. COMPUTATION OF COST-OF-LIVING INCREASES FOR 

16 SOCIAL SECURITY BENEFITS; CONSUMER 

17 PRICE INDEX FOR ELDERLY CONSUMERS. 

18 (a) COMPUTATION OF COST-OF-LIVING IN19 CREASES.— 

20 (1) IN GENERAL.—Section 215(i) of the Social 

21 Security Act (42 U.S.C. 415(i)) is amended— 

22 (A) in paragraph (1)(G), by inserting be23 fore the period the following: ‘‘, and, with re24 spect to any monthly insurance benefit payable 

25 under this title, effective for adjustments under 


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1 this subsection to the primary insurance 

2 amount on which such benefit is based (or to 

3 any such benefit under section 227 or 228), the 

4 applicable Consumer Price Index shall be the 

5 Consumer Price Index for Elderly Consumers 

6 and such primary insurance amount shall be 

7 adjusted under this subsection using such 

8 Index’’; and 

9 (B) in paragraph (4)— 

10 (i) by striking ‘‘and by section 9001’’ 

11 and inserting ‘‘, by section 9001’’; and 

12 (ii) by striking ‘‘1986,’’ and inserting 

13 ‘‘1986, and by section 5(a) of the Safe14 guarding American Families and Expand15 ing Social Security Act of 2024,’’. 

16 (2) CONFORMING AMENDMENTS IN APPLICABLE

17 FORMER LAW.—Section 215(i)(1)(C) of the Social 

18 Security Act, as in effect in December 1978 and ap19 plied in certain cases under the provisions of such 

20 Act in effect after December 1978, is amended by 

21 inserting before the period the following: ‘‘, and, 

22 with respect to any monthly insurance benefit pay23 able under this title, effective for adjustments under 

24 this subsection to the primary insurance amount on 

25 which such benefit is based (or to any such benefit 


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1 under section 227 or 228), the applicable Consumer 

2 Price Index shall be the Consumer Price Index for 

3 Elderly Consumers and such primary insurance 

4 amount shall be adjusted under this subsection 

5 using such Index’’. 

6 (3) EFFECTIVE DATE.—The amendments made 

7 by this subsection shall apply to determinations 

8 made by the Commissioner of Social Security under 

9 section 215(i)(2) of the Social Security Act (42 

10 U.S.C. 415(i)(2)) with respect to cost-of-living com11 putation quarters ending on or after September 30, 

12 2025. 

13 (b) CONSUMER PRICE INDEX FOR ELDERLY CON14 SUMERS.— 

15 (1) IN GENERAL.—The Bureau of Labor Statis16 tics of the Department of Labor shall prepare and 

17 publish an index for each calendar month to be 

18 known as the ‘‘Consumer Price Index for Elderly 

19 Consumers’’ that indicates changes over time in ex20 penditures for consumption which are typical for in21 dividuals in the United States who have attained 

22 early retirement age (as defined under section 

23 216(l)(2) of the Social Security Act (42 U.S.C. 

24 416(l)(2)) for purposes of an old-age, wife’s, or hus25 band’s insurance benefit). 


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1 (2) EFFECTIVE DATE.—Paragraph (1) shall 

2 apply with respect to calendar months ending on or 

3 after June 30 of the calendar year in which this Act 

4 is enacted. 

5 (3) AUTHORIZATION OF APPROPRIATIONS.— 

6 There are authorized to be appropriated such sums 

7 as are necessary to carry out the provisions of this 

8 subsection. 

9 SEC. 6. DEEMED WAGES FOR CAREGIVERS OF DEPENDENT 

10 RELATIVES. 

11 (a) IN GENERAL.—Title II of the Social Security Act 

12 is amended by adding after section 234 (42 U.S.C. 434) 

13 the following new section: 

14 ‘‘DEEMED WAGES FOR CAREGIVERS OF DEPENDENT

15 RELATIVES

16 ‘‘SEC. 235. (a) DEFINITIONS.—For purposes of this 

17 section— 

18 ‘‘(1)(A) Subject to subparagraph (B), the term 

19 ‘qualifying month’ means, in connection with an in20 dividual, any month— 

21 ‘‘(i) beginning after the date of enactment 

22 of the Safeguarding American Families and Ex23 panding Social Security Act of 2024; and 

24 ‘‘(ii) during which such individual was en25 gaged for not less than 80 hours in providing 


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1 care to a dependent relative without monetary 

2 compensation. 

3 ‘‘(B) The term ‘qualifying month’ does not in4 clude any month ending after the date on which 

5 such individual attains retirement age (as defined in 

6 section 216(l)). 

7 ‘‘(C) For purposes of subparagraph (A)(ii), as8 sistance provided to a family caregiver of an eligible 

9 veteran under section 1720G of title 38, United 

10 States Code, shall not be considered monetary com11 pensation for providing care to such eligible veteran. 

12 ‘‘(2) The term ‘dependent relative’ means, in 

13 connection with an individual— 

14 ‘‘(A) a child, grandchild, sibling, niece, or 

15 nephew (of such individual or such individual’s 

16 spouse or domestic partner), or a child to which 

17 the individual or the individual’s spouse or do18 mestic partner is standing in loco parentis, who 

19 is under the age of 16; or 

20 ‘‘(B) a child, grandchild, niece, or nephew 

21 (of such individual or such individual’s spouse 

22 or domestic partner), a child to which the indi23 vidual or the individual’s spouse or domestic 

24 partner is standing in loco parentis, a parent, 

25 grandparent, sibling, aunt, or uncle (of such inVerDate Sep 11 2014 01:23 Sep 19, 2024 Jkt 049200 PO 00000 Frm 00023 Fmt 6652 Sfmt 6201 E:\BILLS\S5017.IS S5017

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1 dividual or his or her spouse or domestic part2 ner), or such individual’s spouse or domestic 

3 partner, if such child, grandchild, niece, neph4 ew, parent, grandparent, sibling, aunt, uncle, 

5 spouse, or domestic partner is a chronically de6 pendent individual. 

7 ‘‘(3)(A) The term ‘chronically dependent indi8 vidual’ means an individual who— 

9 ‘‘(i) is dependent on a daily basis on verbal 

10 reminding, physical cueing, supervision, or 

11 other assistance provided to the individual by 

12 another person in the performance of at least 

13 two of the activities of daily living (described in 

14 subparagraph (B)) or instrumental activities of 

15 daily living (described in subparagraph (C)); 

16 and 

17 ‘‘(ii) without the assistance described in 

18 clause (i), could not perform such activities of 

19 daily living or instrumental activities of daily 

20 living. 

21 ‘‘(B) The ‘activities of daily living’ referred to 

22 in subparagraph (A) means basic personal everyday 

23 activities, including— 

24 ‘‘(i) eating; 

25 ‘‘(ii) bathing; 


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•S 5017 IS

1 ‘‘(iii) dressing; 

2 ‘‘(iv) toileting; and 

3 ‘‘(v) transferring in and out of a bed or in 

4 and out of a chair. 

5 ‘‘(C) The ‘instrumental activities of daily living’ 

6 referred to in subparagraph (A) means activities re7 lated to living independently in the community, in8 cluding— 

9 ‘‘(i) meal planning and preparation; 

10 ‘‘(ii) managing finances; 

11 ‘‘(iii) shopping for food, clothing, or other 

12 essential items; 

13 ‘‘(iv) performing essential household 

14 chores; 

15 ‘‘(v) communicating by phone or other 

16 form of media; and 

17 ‘‘(vi) traveling around and participating in 

18 the community. 

19 ‘‘(b) DEEMED WAGES OF CAREGIVER.—(1)(A) For 

20 purposes of determining entitlement to and the amount 

21 of any monthly benefit for any month beginning after the 

22 date of enactment of Safeguarding American Families and 

23 Expanding Social Security Act of 2024, or entitlement to 

24 and the amount of any lump-sum death payment in the 

25 case of a death after such month, payable under this title 


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•S 5017 IS

1 on the basis of the wages and self-employment income of 

2 any individual, and for purposes of section 216(i)(3), such 

3 individual shall be deemed to have been paid during each 

4 qualifying month (in addition to wages or self-employment 

5 income actually paid to or derived by such individual dur6 ing such month) at an amount per month equal to— 

7 ‘‘(i) in the case of a qualifying month during 

8 which no wages or self-employment income were ac9 tually paid to or derived by such individual— 

10 ‘‘(I) 50 percent of the national average 

11 wage index (as defined in section 209(k)(1)) for 

12 the second calendar year preceding the calendar 

13 year in which such month occurs; or 

14 ‘‘(II) if the dependent relative to which the 

15 individual provided care during such month 

16 was, at any time during such month, a child 

17 under the age of 6 or a chronically dependent 

18 individual, 100 percent of the national average 

19 wage index (as defined in section 209(k)(1)) for 

20 the second calendar year preceding the calendar 

21 year in which such month occurs; 

22 ‘‘(ii) in the case of a qualifying month in which 

23 an individual engages in employment or any trade or 

24 business carried on by the individual or by a part25 nership of which the individual is a member for not 


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•S 5017 IS

1 more than 80 hours, 50 percent of the national aver2 age wage index (as defined in section 209(k)(1)) for 

3 the second calendar year preceding the calendar year 

4 in which such month occurs; and 

5 ‘‘(iii) in the case of any other qualifying month, 

6 the excess of the amount determined under clause (i) 

over 1 7 ⁄2 of the wages or self-employment income ac8 tually paid to or derived by such individual during 

9 such month. 

10 ‘‘(B) In any case in which there are more than 120 

11 qualifying months for an individual, only the last 60 of 

12 such months shall be taken into account for purposes of 

13 this section. 

14 ‘‘(2) Paragraph (1) shall not be applicable in the case 

15 of any monthly benefit or lump-sum death payment if a 

16 larger such benefit or payment, as the case may be, would 

17 be payable without its application. 

18 ‘‘(c) RULES AND REGULATIONS.— 

19 ‘‘(1) Not later than one year after the date of 

20 the enactment of this section, the Commissioner of 

21 Social Security shall promulgate such regulations as 

22 are necessary to carry out this section and to pre23 vent fraud and abuse with respect to the benefits 

24 under this section, including regulations establishing 


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1 procedures for the application and certification re2 quirements described in paragraph (2). 

3 ‘‘(2) A qualifying month shall not be taken into 

4 account under this section with respect to an indi5 vidual unless— 

6 ‘‘(A) the individual submits to the Com7 missioner of Social Security an application for 

8 benefits under this section that includes— 

9 ‘‘(i) the name and identifying infor10 mation of the dependent relative with re11 spect to whom the individual was engaged 

12 in providing care during such month; 

13 ‘‘(ii) if the dependent relative is not a 

14 child under the age of 16, documentation 

15 from the physician of the dependent rel16 ative explaining why the dependent relative 

17 is a chronically dependent individual; and 

18 ‘‘(iii) such other information as the 

19 Commissioner may require to verify the 

20 status of the dependent relative; and 

21 ‘‘(B) for every qualifying month or period 

22 of up to 12 consecutive qualifying months that 

23 occurs after the first period of 12 consecutive 

24 qualifying months, the individual certifies, in 

25 such form and manner as the Commissioner 


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•S 5017 IS

1 shall require, that the information provided in 

2 the individual’s application for benefits under 

3 this section has not changed.’’. 

4 (b) CONFORMING AMENDMENT.—Section 209(k)(1) 

5 of such Act (42 U.S.C. 409(k)(1)) is amended— 

6 (1) by striking ‘‘and’’ before ‘‘230(b)(2)’’ the 

7 first time it appears; and 

8 (2) by inserting ‘‘and 235(b)(1)(A)(i),’’ after 

9 ‘‘1977),’’. 

10 SEC. 7. INCREASE IN MINIMUM BENEFIT FOR LIFETIME 

11 LOW EARNERS BASED ON YEARS IN THE 

12 WORKFORCE. 

13 (a) IN GENERAL.—Section 215(a)(1) of the Social 

14 Security Act (42 U.S.C. 415(a)(1)) is amended— 

15 (1) by redesignating subparagraph (D) as sub16 paragraph (E); and 

17 (2) by inserting after subparagraph (C) the fol18 lowing new subparagraph: 

19 ‘‘(D)(i) Effective with respect to the benefits of indi20 viduals who become eligible for old-age insurance benefits 

21 or disability insurance benefits (or die before becoming so 

22 eligible) after 2024, no primary insurance amount com23 puted under subparagraph (A) may be less than the great24 er of— 


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1 ‘‘(I) the minimum monthly amount computed 

2 under subparagraph (C); or 

3 ‘‘(II) in the case of an individual who has more 

4 than 10 years of work (as defined in clause (iv)(I)), 

5 the alternative minimum amount determined under 

6 clause (ii). 

7 ‘‘(ii)(I) The alternative minimum amount determined 

under this clause is the applicable percentage of 1 8 ⁄12 of 

9 the annual dollar amount determined under clause (iii) for 

10 the year in which the amount is determined. 

11 ‘‘(II) For purposes of subclause (I), the applicable 

12 percentage is the percentage specified in connection with 

13 the number of years of work, as set forth in the following 

14 table: 

‘‘If the number of years The applicable 

of work is: percentage is: 

11 ...................................................................................... 6.25 percent

12 ...................................................................................... 12.50 percent

13 ...................................................................................... 18.75 percent

14 ...................................................................................... 25.00 percent

15 ...................................................................................... 31.25 percent

16 ...................................................................................... 37.50 percent

17 ...................................................................................... 43.75 percent

18 ...................................................................................... 50.00 percent

19 ...................................................................................... 56.25 percent

20 ...................................................................................... 62.50 percent

21 ...................................................................................... 68.75 percent

22 ...................................................................................... 75.00 percent

23 ...................................................................................... 81.25 percent

24 ...................................................................................... 87.50 percent

25 ...................................................................................... 93.75 percent

26 ...................................................................................... 100.00 percent

27 ...................................................................................... 106.25 percent

28 ...................................................................................... 112.50 percent

29 ...................................................................................... 118.75 percent

30 or more ........................................................................ 125.00 percent. 


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1 ‘‘(iii) The annual dollar amount determined under 

2 this clause is— 

3 ‘‘(I) for calendar year 2025, the poverty guide4 line for 2024; and 

5 ‘‘(II) for any calendar year after 2025, the an6 nual dollar amount for 2025 multiplied by the ratio 

7 of— 

8 ‘‘(aa) the national average wage index (as 

9 defined in section 209(k)(1)) for the second cal10 endar year preceding the calendar year for 

11 which the determination is made, to 

12 ‘‘(bb) the national average wage index (as 

13 so defined) for 2023. 

14 ‘‘(iv) For purposes of this subparagraph— 

15 ‘‘(I) the term ‘year of work’ means, with re16 spect to an individual, a year to which 4 quarters of 

17 coverage have been credited based on such individ18 ual’s wages and self-employment income; and 

19 ‘‘(II) the term ‘poverty guideline for 2023’ 

20 means the annual poverty guideline for 2023 (as up21 dated annually in the Federal Register by the De22 partment of Health and Human Services under the 

23 authority of section 673(2) of the Omnibus Budget 

24 Reconciliation Act of 1981) as applicable to a single 

25 individual.’’. 


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1 (b) RECOMPUTATION.—Notwithstanding section 

2 215(f)(1) of the Social Security Act, the Commissioner of 

3 Social Security shall recompute primary insurance 

4 amounts originally computed for months prior to Novem5 ber 2024 to the extent necessary to carry out the amend6 ments made by this section. 

7 (c) CONFORMING AMENDMENT.—Section 209(k)(1) 

8 of such Act (42 U.S.C. 409(k)(1)) is amended by inserting 

9 ‘‘215(a)(1)(E),’’ after ‘‘215(a)(1)(D),’’. 

10 SEC. 8. ELIMINATION OF DISABILITY WAITING PERIOD FOR 

11 DISABILITY INSURANCE BENEFITS AND SUR12 VIVING SPOUSE BENEFITS. 

13 (a) ELIMINATION OF WAITING PERIOD FOR DIS14 ABILITY INSURANCE BENEFITS.—Section 223 of the So15 cial Security Act (42 U.S.C. 423), as amended by section 

16 4(b)(2), is amended— 

17 (1) in subsection (a)— 

18 (A) in paragraph (1), in the matter fol19 lowing subparagraph (E)— 

20 (i) by striking ‘‘disability insurance 

21 benefit (i) for each month’’ and all that 

22 follows through ‘‘, or (iii)’’ and inserting 

23 ‘‘disability insurance benefit’’; and 


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•S 5017 IS

1 (ii) by striking ‘‘, but only if’’ and all 

2 that follows through ‘‘under such dis3 ability’’; and 

4 (B) in paragraph (2), by striking ‘‘as 

5 though he had attained age 62 in—’’ and all 

6 that follows through ‘‘such disability insurance 

7 benefits,’’ and inserting ‘‘as though the indi8 vidual had attained age 62 in the first month 

9 for which the individual becomes entitled to 

10 such disability insurance benefits,’’; and 

11 (2) in subsection (c)— 

12 (A) in the subsection header, by striking 

13 ‘‘Definitions of Insured Status and Waiting Pe14 riod’’ and inserting ‘‘Definition of Insured Sta15 tus’’; and 

16 (B) by striking paragraph (2). 

17 (b) ELIMINATION OF WAITING PERIOD FOR SUR18 VIVING SPOUSE AND SURVIVING DIVORCED SPOUSE BEN19 EFITS.—Section 202 of the Social Security Act (42 U.S.C. 

20 402) is amended— 

21 (1) in subsection (e)— 

22 (A) in paragraph (1), in the matter fol23 lowing subparagraph (D), by striking ‘‘begin24 ning with—’’ and all that follows through ‘‘on 

25 such basis terminated,’’ and inserting ‘‘beginVerDate Sep 11 2014 01:23 Sep 19, 2024 Jkt 049200 PO 00000 Frm 00033 Fmt 6652 Sfmt 6201 E:\BILLS\S5017.IS S5017

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1 ning with the first month in which she becomes 

2 so entitled to such insurance benefits’’; 

3 (B) by striking paragraph (5); and 

4 (C) by redesignating paragraphs (6) 

5 through (8) as paragraphs (5) through (7); and 

6 (2) in subsection (f)— 

7 (A) in paragraph (1), in the matter fol8 lowing subparagraph (D), by striking ‘‘begin9 ning with—’’ and all that follows through ‘‘on 

10 such basis terminated,’’ and inserting ‘‘begin11 ning with the first month in which he becomes 

12 so entitled to such insurance benefits’’; 

13 (B) by striking paragraph (5); and 

14 (C) by redesignating paragraphs (6) 

15 through (8) as paragraphs (5) through (7). 

16 (c) EFFECTIVE DATE.—The amendments made by 

17 this section shall apply with respect to applications for 

18 benefits filed on or after the date of the enactment of this 

19 Act. 

20 SEC. 9. TAX ON INVESTMENT GAIN. 

21 (a) IN GENERAL.—Subsection (a) of section 1411 of 

22 the Internal Revenue Code of 1986 is amended by striking 

23 ‘‘3.8 percent’’ each place it appears and inserting ‘‘6.8 

24 percent’’. 


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•S 5017 IS

1 (b) CONFORMING AMENDMENT.—The heading for 

2 chapter 2A of the Internal Revenue Code of 1986 is 

3 amended by inserting ‘‘AND SOCIAL SECURITY’’ 

4 after ‘‘MEDICARE’’. 

5 (c) TRUST FUNDS.— 

6 (1) TECHNICAL AMENDMENTS.—Section 201 of 

7 the Social Security Act (42 U.S.C. 401) is amend8 ed— 

9 (A) in subsection (a)— 

10 (i) by striking ‘‘clause’’ each place it 

11 appears and inserting ‘‘paragraph’’; and 

12 (ii) in the flush text at the end, by 

13 striking ‘‘clauses’’ each place it appears 

14 and inserting ‘‘paragraphs’’; and 

15 (B) in subsection (g)(2), by striking 

16 ‘‘clause’’ each place it appears and inserting 

17 ‘‘paragraph’’. 

18 (2) FEDERAL OLD-AGE AND SURVIVORS INSUR19 ANCE TRUST FUND.—Subsection (a) of section 201 

20 of the Social Security Act (42 U.S.C. 401), as 

21 amended by paragraph (1), is amended— 

22 (A) in paragraph (4), by striking the pe23 riod at the end and inserting ‘‘; and’’; 

24 (B) by inserting after paragraph (4) the 

25 following new paragraph: 


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1 ‘‘(5) 44.1 percent of the taxes imposed under section 

2 1411 of the Internal Revenue Code of 1986.’’; and 

3 (C) in the flush matter at the end, by 

4 striking ‘‘paragraphs (3) and (4)’’ each place it 

5 appears and inserting ‘‘paragraphs (3), (4), and 

6 (5)’’. 

7 (d) EFFECTIVE DATE.—The amendments made by 

8 this section shall apply to taxable years beginning after 

9 December 31, 2024. 

10 SEC. 10. HOLDING SSI, MEDICAID, AND CHIP BENE11 FICIARIES HARMLESS. 

12 For purposes of determining the income of an indi13 vidual to establish eligibility for, and the amount of, bene14 fits payable under title XVI of the Social Security Act, 

15 eligibility for medical assistance under the State plan 

16 under title XIX (or a waiver of such plan), or eligibility 

17 for child health assistance under the State child health 

18 plan under title XXI (or a waiver of the plan), the amount 

19 of any benefit to which the individual is entitled under 

20 title II of such Act shall be deemed not to exceed the 

21 amount of the benefit that would be determined for such 

22 individual under such title as in effect on the day before 

23 the date of the enactment of this Act. 

Æ 


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