Social Security for Future Generations Act of 2017

Bill: 115-hr-2855
Sponsor: Rep. Lawson, Al, Jr. [D-FL-5]
Introduced: 2017-06-08 in the House
Policy area: Social Welfare
Subjects: Child health
Employment taxes
Health care costs and insurance
Higher education
Inflation and prices
Medicaid
Poverty and welfare assistance
Self-employed
Social security and elderly assistance
Wages and earnings

Summary:
action_date: 2017-06-08
text: 

Social Security for Future Generations Act of 2017

 
This bill amends the Internal Revenue Code and the Social Security Act (SSAct) to apply employment and self-employment taxes to remuneration up to the contribution and benefit base ($127,200 in 2017) and to remuneration in excess of $250,000 beginning in calender years after 2017.
 
Title II (Old Age, Survivor and Disability Insurance [OASDI]) of the SSAct is amended to: (1) include 2% of an individual's excess average indexed monthly earnings (over $250,000 per annum) in the formula for determining primary insurance amounts; (2) revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers (CPI-E); (3) provide extended benefit eligibility for children of disabled, retired, or deceased workers who are full-time students; (4) increase the special minimum primary insurance amount for lifetime low-wage workers; and (5) provide an alternate benefit amount for widow's and widower's insurance benefits.
 
The bill preserves eligibility for supplemental security income payments, Medicaid, and the Children's Health Insurance Program (CHIP) by limiting the amount of OASDI payments considered in eligibility determinations.


Legislative actions:
action_date: 2017-06-20
text: Referred to the Subcommittee on Social Security.
action_date: 2017-06-09
text: Referred to the Subcommittee on Health.
action_date: 2017-06-09
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2017-06-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, 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_date: 2017-06-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, 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_date: 2017-06-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, 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_date: 2017-06-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, 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_date: 2017-06-08
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and the Workforce, Transportation and Infrastructure, 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_date: 2017-06-08
text: Introduced in House
action_date: 2017-06-08
text: Introduced in House