Social Security for Future Generations Act of 2019

Bill: 116-hr-4121
Sponsor: Rep. Lawson, Al, Jr. [D-FL-5]
Introduced: 2019-07-30 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: 2019-07-30
text: 

Social Security for Future Generations Act of 2019

 
This bill increases specified benefits and taxes related to the Old-Age, Survivors, and Disability Insurance (OASDI) program and otherwise modifies the 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 taxes. No taxes shall be applied to earnings between the contribution base (the maximum amount subject to the Social Security payroll tax, set at $137,700 for 2020) and $250,000. 
 
In addition, the bill preserves eligibility for Supplemental Security Income payments and other means-tested programs by limiting the amount of OASDI payments considered in eligibility determinations.


Legislative actions:
action_date: 2019-07-31
text: Referred to the Subcommittee on Health.
action_date: 2019-07-31
text: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
action_date: 2019-07-30
text: Referred to the Subcommittee on Social Security.
action_date: 2019-07-30
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, 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: 2019-07-30
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, 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: 2019-07-30
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, 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: 2019-07-30
text: Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, 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: 2019-07-30
text: Introduced in House
action_date: 2019-07-30
text: Introduced in House