I 
118TH CONGRESS 
2D SESSION 
H. R. 9300 
To amend title II of the Social Security Act and the Internal Revenue 
Code of 1986 to make improvements in the old-age, survivors, and 
disability insurance program. 
IN THE HOUSE OF REPRESENTATIVES 
AUGUST 2, 2024 
Ms. TOKUDA (for herself, Mr. COHEN, and Ms. SCHAKOWSKY) introduced the 
following bill; which was referred to the Committee on Ways and Means, 
and in addition to the Committees on Energy and Commerce, and Edu-
cation and the Workforce, for a period to be subsequently determined by 
the Speaker, in each case for consideration of such provisions as fall with-
in the jurisdiction of the committee concerned 
A BILL 
To amend title II of the Social Security Act and the Internal 
Revenue Code of 1986 to make improvements in the 
old-age, survivors, and disability insurance program. 
Be it enacted by the Senate and House of Representa-
tives of the United States of America in Congress assembled, 
SECTION 1. SHORT TITLE AND TABLE OF CONTENTS. 
(a) SHORT TITLE.—This Act may be cited as the 
‘‘Protecting and Preserving Social Security Act’’. 
(b) TABLE OF CONTENTS.—The table of contents of 
this Act is as follows: 
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Sec. 1. Short title and table of contents. 
TITLE I—COST-OF-LIVING INCREASES 
Sec. 101. Consumer Price Index for Elderly Consumers. 
Sec. 102. Computation of cost-of-living increases. 
TITLE II—CONTRIBUTION AND BENEFIT FAIRNESS 
Sec. 201. Determination of wages and self-employment income above contribu-
tion and benefit base after 2024. 
Sec. 202. Inclusion of surplus earnings in Social Security benefit formula. 
TITLE I—COST-OF-LIVING 
INCREASES 
SEC. 101. CONSUMER PRICE INDEX FOR ELDERLY CON-
SUMERS. 
(a) IN GENERAL.—The Bureau of Labor Statistics 
of the Department of Labor shall prepare and publish an 
index for each calendar month to be known as the ‘‘Con-
sumer Price Index for Elderly Consumers’’ that indicates 
changes over time in expenditures for consumption which 
are typical for individuals in the United States who are 
62 years of age or older. 
(b) EFFECTIVE DATE.—Subsection (a) shall apply 
with respect to calendar months ending on or after July 
31 of the calendar year following the calendar year in 
which this Act is enacted. 
(c) AUTHORIZATION
OF APPROPRIATIONS.—There 
are authorized to be appropriated such sums as are nec-
essary to carry out the provisions of this section. 
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SEC. 102. COMPUTATION OF COST-OF-LIVING INCREASES. 
(a) IN GENERAL.—Section 215(i)(1) of the Social Se-
curity Act (42 U.S.C. 415(i)(1)) is amended by adding 
at the end the following new subparagraph: 
‘‘(H) the term ‘Consumer Price Index’ 
means the Consumer Price Index for Elderly 
Consumers (CPI–E, as published by the Bu-
reau of Labor Statistics of the Department of 
Labor).’’. 
(b) APPLICATION TO PRE-1979 LAW.— 
(1) IN GENERAL.—Section 215(i)(1) of the So-
cial Security Act as in effect in December 1978, and 
as applied in certain cases under the provisions of 
such Act as in effect after December 1978, is 
amended by adding at the end the following new 
subparagraph: 
‘‘(D) the term ‘Consumer Price Index’ 
means the Consumer Price Index for Elderly 
Consumers (CPI–E, as published by the Bu-
reau of Labor Statistics of the Department of 
Labor).’’. 
(2) 
CONFORMING
AMENDMENT.—Section 
215(i)(4) of the Social Security Act (42 U.S.C. 
415(i)(4)) is amended by inserting ‘‘and by section 
102 of the Protecting and Preserving Social Security 
Act’’ after ‘‘1986’’. 
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(c) NO EFFECT ON ADJUSTMENTS UNDER OTHER 
LAWS.—Section 215(i) of the Social Security Act (42 
U.S.C. 415(i)) is amended by adding at the end the fol-
lowing: 
‘‘(6) Any provision of law (other than in this 
title or title XVI) which provides for adjustment of 
an amount based on a change in benefit amounts re-
sulting from a determination made under this sub-
section shall be applied and administered without re-
gard to the amendments made by section 102 of the 
Protecting and Preserving Social Security Act.’’. 
(d) NO EFFECT ON ELIGIBILITY FOR SSI AND MED-
ICAID.—Any increase to an individual’s monthly benefit 
amount under title II of the Social Security Act as a result 
of the amendments made by this section shall not be re-
garded as income or resources for any subsequent month, 
for purposes of determining the eligibility of the recipient 
(or the recipient’s spouse or family) for benefits or assist-
ance, or the amount or extent of benefits or assistance, 
under the Supplemental Security Income program or the 
Medicaid program. 
(e) EFFECTIVE DATE.—The amendments made by 
this section shall apply to determinations made with re-
spect to cost-of-living computation quarters (as defined in 
section 215(i)(1)(B) of the Social Security Act (42 U.S.C. 
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415(i)(1)(B))) ending on or after September 30 of the sec-
ond calendar year following the calendar year in which this 
Act is enacted. 
TITLE II—CONTRIBUTION AND 
BENEFIT FAIRNESS 
SEC. 201. DETERMINATION OF WAGES AND SELF-EMPLOY-
MENT INCOME ABOVE CONTRIBUTION AND 
BENEFIT BASE AFTER 2024. 
(a) DETERMINATION OF WAGES ABOVE CONTRIBU-
TION AND BENEFIT BASE AFTER 2024.— 
(1) AMENDMENTS TO THE INTERNAL REVENUE 
CODE OF 1986.—Section 3121 of the Internal Rev-
enue Code of 1986 is amended— 
(A) in subsection (a)(1), by inserting ‘‘the 
applicable percentage (determined under sub-
section (c)(1)) of’’ before ‘‘that part of the re-
muneration’’, and 
(B) in subsection (c), by striking ‘‘(c) IN-
CLUDED AND EXCLUDED SERVICE.—For pur-
poses of this chapter, if’’ and inserting the fol-
lowing: 
‘‘(c) SPECIAL RULES
FOR WAGES
AND EMPLOY-
MENT.— 
‘‘(1) APPLICABLE PERCENTAGE OF REMUNERA-
TION
IN
DETERMINING
WAGES.—For purposes of 
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paragraph (1) of subsection (a), the applicable per-
centage for a calendar year, in connection with any 
calendar year referred to in such paragraph, shall be 
the percentage determined in accordance with the 
following table: 
The applicable 
‘‘In the case of: 
percentage is: 
Calendar year 2025 .....................................................................
Calendar year 2026 .....................................................................
Calendar year 2027 .....................................................................
Calendar year 2028 .....................................................................
Calendar year 2029 .....................................................................
Calendar year 2030 .....................................................................
Calendar years after 2030 ...........................................................
0. 
‘‘(2) INCLUDED AND EXCLUDED SERVICE.—For 
purposes of this chapter, if’’. 
(2) AMENDMENTS
TO
THE
SOCIAL
SECURITY 
ACT.—Section 209 of the Social Security Act (42 
U.S.C. 409) is amended— 
(A) in subsection (a)(1)— 
(i) in subparagraph (I)— 
(I) by inserting ‘‘and before 
2025’’ after ‘‘1974’’; and 
(II) by inserting ‘‘and’’ after the 
semicolon; and 
(ii) by adding at the end the following 
new subparagraph: 
‘‘(J) The applicable percentage (deter-
mined under subsection (l)) of that part of re-
muneration which, after remuneration (other 
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than remuneration referred to in the succeeding 
subsections of this section) equal to the con-
tribution and benefit base (determined under 
section 230) with respect to employment has 
been paid to an individual during any calendar 
year after 2024 with respect to which such con-
tribution and benefit base is effective, is paid to 
such individual during such calendar year;’’; 
and 
(B) by adding at the end the following new 
subsection: 
‘‘(l) For purposes of subparagraph (J) of subsection 
(a)(1), the applicable percentage for a calendar year, in 
connection with any calendar year referred to in such sub-
paragraph, shall be the percentage determined in accord-
ance with the following table: 
The applicable 
‘‘In the case of: 
percentage is: 
Calendar year 2025 .....................................................................
Calendar year 2026 .....................................................................
Calendar year 2027 .....................................................................
Calendar year 2028 .....................................................................
Calendar year 2029 .....................................................................
Calendar year 2030 .....................................................................
Calendar years after 2030 ...........................................................
0.’’. 
(3) EFFECTIVE DATE.—The amendments made 
by this subsection shall apply with respect to remu-
neration paid in calendar years after 2024. 
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(b) DETERMINATION
OF SELF-EMPLOYMENT IN-
COME ABOVE CONTRIBUTION AND BENEFIT BASE AFTER 
2024.— 
(1) AMENDMENTS TO THE INTERNAL REVENUE 
CODE OF 1986.—Section 1402 of the Internal Rev-
enue Code of 1986 is amended— 
(A) in subsection (b)(1), by inserting ‘‘an 
amount equal to the applicable percentage (as 
determined under subsection (d)(2)) of’’ before 
‘‘that part of the net earnings from self-employ-
ment’’, and 
(B) in subsection (d)— 
(i) by striking ‘‘(d) EMPLOYEE AND 
WAGES.—The term’’ and inserting the fol-
lowing: 
‘‘(d) RULES AND DEFINITIONS.— 
‘‘(1) EMPLOYEE AND WAGES.—The term’’, and 
(ii) by adding at the end the fol-
lowing: 
‘‘(2) APPLICABLE PERCENTAGE OF NET EARN-
INGS
FROM
SELF-EMPLOYMENT
IN
DETERMINING 
SELF-EMPLOYMENT INCOME.—For purposes of para-
graph (1) of subsection (b), the applicable percent-
age for a taxable year beginning in any calendar 
year referred to in such paragraph shall be the per-
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centage determined in accordance with the following 
table: 
The applicable 
‘‘In the case of: 
percentage is: 
Calendar year 2025 .....................................................................
Calendar year 2026 .....................................................................
Calendar year 2027 .....................................................................
Calendar year 2028 .....................................................................
Calendar year 2029 .....................................................................
Calendar year 2030 .....................................................................
Calendar years after 2030 ...........................................................
0.’’. 
(2) AMENDMENTS
TO
THE
SOCIAL
SECURITY 
ACT.—Section 211 of the Social Security Act (42 
U.S.C. 411) is amended— 
(A) in subsection (b)— 
(i) in paragraph (1)(I)— 
(I) by striking ‘‘or’’ after the 
semicolon; and 
(II) by inserting ‘‘and before 
2025’’ after ‘‘1974’’; 
(ii) by redesignating paragraph (2) as 
paragraph (3); and 
(iii) by inserting after paragraph (1) 
the following new paragraph: 
‘‘(2) For any taxable year beginning in any cal-
endar year after 2024, an amount equal to the appli-
cable percentage (as determined under subsection 
(l)) of that part of net earnings from self-employ-
ment which is in excess of (A) an amount equal to 
the contribution and benefit base (determined under 
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