August Educate Congress

Socialsecuritymoney

Social Security has been guaranteeing a steady income for seniors and the disabled for 81 years this month. Now is the time to work on expanding these benefits and implementing 21st century changes regarding Cost of Living Adjustments (COLA) and preparing to provide benefits for future generations.

House
H.Res.393 - Resolution on Expansion (Schakowsky)
Supports policies to protect and expand Social Security and secure its long-term future in a fair and responsible manner.

H.R. 1391 - Social Security 2100 Act (Larson)
Provides an across the board 2% increase for all beneficiaries so that all Social Security recipients would see an immediate benefit increase starting in 2015. Switches to the more accurate CPI-E.
Protects the lowest income beneficiaries be ensuring that those who paid into the system
receive a minimum benefit equal to 125% of the poverty line. Over 24 years, increases the payroll tax on workers and employers from 6.2% to 7.4%. This is a 0.05% increase each year would be the equivalent of 50 cents per week cumulatively. Lift the cap by applying the payroll tax to
earners making more than $400,000. Ensures the solvency of the DI Trust Fund through a clean reallocation of the payroll tax.

H.R. 1756 - Social Security Enhancement and Protection Act (Moore)
Increases the special minimum benefit paid to workers who have spent long careers in low-wage
jobs. Gives credits of up to five years toward the minimum benefit for a parent who leaves the workforce to raise a child younger than six years old. Provides a 5% increase for the very old. Restores the benefits of survivors in college up to age 22. Eliminates the cap on taxable income and gradually increases FICA.

H.R. 4144 - SAVE (Seniors and Veterans Emergency Benefits Act (Duckworth)
This bill directs the Department of the Treasury to disburse a payment equal to 3.9% of the average amount of annual benefits to certain individuals (except prisoners, fugitive felons, or aliens) who are entitled to a specified benefit under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA), an annuity under the Railroad Retirement Act of 1974, a veterans benefit, or are eligible for a cash benefit under SSA title XVI (Supplemental Security Income), including a special benefit for individuals who perform substantial gainful activity despite severe medical impairment.

A refundable income tax credit is allowed for the first taxable year beginning in 2015 in an amount equal to $581 for certain eligible government retirees who do not receive such a payment.

Senate
S. 731 - Social Security Expansion Act (Sanders)
Immediately subjects earnings above $250k to the payroll tax. Creates temporary “doughnut hole” of earnings not taxed between current cap and $250k, which will close steadily as the current cap grows to $250k. Switches to the more accurate CPI-E. Changes the benefit formula in a way
which boosts benefits for all Social Security beneficiaries by approximately $65 per month.

S. 1904 - Social Security 2100 Act (Blumenthal)
Provides an across the board 2% increase for all beneficiaries so that all Social Security recipients would see an immediate benefit increase starting in 2015. Switches to the more accurate CPI-E.
Protects the lowest income beneficiaries be ensuring that those who paid into the system
receive a minimum benefit equal to 125% of the poverty line. Over 24 years, increases the payroll tax on workers and employers from 6.2% to 7.4%. This is a 0.05% increase each year would be the equivalent of 50 cents per week cumulatively. Lift the cap by applying the payroll tax to
earners making more than $400,000. Ensures the solvency of the DI Trust Fund through a clean reallocation of the payroll tax.

S. 1940 - SAFE Social Security Act (Schatz)
Ensures millionaires and billionaires pay the same rate as the rest of Americans by gradually eliminating the Social Security tax cap. Changes the benefit formula in a way which boosts benefits for all Social Security beneficiaries by approximately $70 per month. Benefit increase is targeted to
help those in the low and middle of the income distribution. Switches to the more accurate CPI-E.

S. 2251 - SAVE (Seniors and Veterans Emergency Benefits Act (Warren)
This bill directs the Department of the Treasury to disburse a payment equal to 3.9% of the average amount of annual benefits to certain individuals (except prisoners, fugitive felons, or aliens) who are entitled to a specified benefit under title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSA), an annuity under the Railroad Retirement Act of 1974, a veterans benefit, or are eligible for a cash benefit under SSA title XVI (Supplemental Security Income), including a special benefit for individuals who perform substantial gainful activity despite severe medical impairment.

A refundable income tax credit is allowed for the first taxable year beginning in 2015 in an amount equal to $581 for certain eligible government retirees who do not receive such a payment.


Click on the link to download and print the letter for your Senator(s) and Representative.

House Letter - August 2016

Senate Letter - August 2016


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