Sponsor. Congressman Larson's Committee Assignments, Invite me to an event or schedule a meeting, Larson Fights to Protect Seniors and Workers from Republican Attacks, One party is working to protect and enhance Social Security, Larson Commends Sanders, Warren, Schakowsky, and Hoyle for Social Security Legislation, Larson: Republicans Continue Their Promises to End Social Security as We Know It, Larson: Congress Must Vote to Protect and Expand Social Security, Larson Statement on Social Security COLA Increase for 2023, Column: Young people need to fight for Social Security now more than ever, Los Angeles Times: Column: Young people need to fight for Social Security now, Larson Statement on Upcoming COLA Increase, Larson Statement on the Ways and Means Markup of H.R. By joining our advisory group, you can help us make GovTrack more useful and engaging to young voters like you. The amendments made by this section shall apply with respect to individuals who become entitled to monthly insurance benefits in months in calendar years 2022 through 2026. to whom wages and self-employment income were credited in each of such hypothetical individuals elapsed years (within the meaning of section 215(b)(2)(B)(iii)) in an amount equal to the national average wage index (as described in section 209(k)(1)) for each such year. For calendar years 2028 through 2031, 1.5 percent. by striking grandchild or stepgrandchild of an individual or his spouse and inserting grandchild, stepgrandchild, or other first-degree, second-degree, third-degree, fourth-degree, or fifth-degree relative of an individual or the individual's spouse; by striking was no natural or adoptive parent and inserting is no living natural or adoptive parent; by striking was under a disability and inserting is under a disability; by striking living at the time and all that follows through , or (B) and inserting , (B); and. The Social Security 2100 Act aims to increase and expand benefits, including improving the Cost of Living Adjustment (COLA), so it reflects the inflation actually experienced by seniors,. We recommend the following MLA-formatted citation when using the information you see here in academic work: GovTrack.us. transferring in and out of a bed or in and out of a chair. by striking (other than payments and all that follows through and reducing and inserting , but reducing; by striking Trust Funds each place it appears and inserting Trust Fund; and. H.R.5723 - Social Security 2100: A Sacred Trust 117th Congress (2021-2022) Bill Hide Overview More on This Bill Constitutional Authority Statements CBO Cost Estimates [0] Subject Policy Area: Social Welfare Summary (0) Text (1) Actions (6) Titles (2) Amendments (0) Cosponsors (202) Committees (3) Related Bills (5) in section 202(x)(3)(B)(iii), by striking the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as appropriate, and inserting the Social Security Trust Fund; in section 206(d)(5), by striking the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as appropriate and inserting the Social Security Trust Fund; in section 206(e)(3)(B), by striking the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund and inserting the Social Security Trust Fund; in section 208(b)(5)(A), by striking the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund, as appropriate and inserting the Social Security Trust Fund; by striking the combined balance in the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund and inserting the balance in the Social Security Trust Fund; and, by striking and reduced by the outstanding amount of any loan (including interest thereon) theretofore made to either such Fund from the Federal Hospital Insurance Trust Fund under section 201(l); and, by striking the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund and inserting the Social Security Trust Fund; and. Rep. John Larson (CT-01) Bill Number(s) S. 3071. Our public interest mission means we will never put our service behind a paywall. |date=October 26, 2021 406(a)(2)(A)) is amended by striking The Commissioner of Social Security may and all that follows through the end and inserting the following: In the case of an agreement described in this subparagraph entered into in a calendar year after 2021, the dollar amount specified in clause (ii)(II) for such calendar year shall be equal to the amount determined for the calendar year preceding such calendar year, or if larger, the product (rounded to the nearest dollar) of the amount so specified and the ratio of the national average wage index (as defined in section 209(k)(1)) for the second calendar year preceding such calendar year to the national average wage index (as so defined) for 1989. The amendments made by this section shall apply with respect to widows or widowers insurance benefits payable for months in calendar years 2022 through 2026. We are also still on Instagram at @govtrack.us posting 60-second summary videos of legislation in Congress. Provides a tax cut for 23 million lower- and middle-income Americans reducing their taxes on their Social Security benefits. |author=117th Congress (2021) The bill was not enacted into law. 655(a)) is amended by striking Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds and inserting Social Security Trust Fund. 424(f)(2)(B)(i)) is amended by inserting (or if higher (and if such calendar year is after 2021), the highest national average wage index (as so defined) for any calendar year before such calendar year) after made. on this bill on a six-point scale from strongly oppose to strongly support. For purposes of this section, the tax imposed by sections 3101(b)(2) (to the extent not withheld) and the tax imposed by section 3103 shall be treated as taxes imposed by chapter 2. Increasing the minimum benefit for long-term low earners, Section 215(a)(1) of the Social Security Act (42 U.S.C. the term basic wages means that portion of the wages of an individual paid in a year that does not exceed the contribution and benefit base for the year; the term basic self-employment income means that portion of the self-employment income of an individual credited to a year that does not exceed an amount equal to the contribution and benefit base for the year minus the amount of the wages paid to the individual in the year; the term excess wages means that portion of the wages of an individual paid in a year after 2021 in excess of the higher of $400,000 or the contribution and benefit base for the year; and. Specifically, Social Security 2100: A Sacred Trust would: Increase Benefits for American Senior Citizens Benefit bump for current and new beneficiaries - Provides an increase for all beneficiaries that is equivalent to about 2% of the average benefit. The amendments made by this section shall apply to taxable years beginning after December 31, 2021, and before January 1, 2027. Visit us on Mastodon Hartford, CT Today, Rep. John B. Larson (CT-01) released this statement following President Bidens calls to protect Social Security from Republican attacks and expand the program for beneficiaries. Another proposal called Social Security 2100: A Sacred Trust would increase the payroll tax cap to $400,000 on earned wages. H.R. Section 3231(e)(2)(A) of the Internal Revenue Code of 1986 is amended by adding at the end the following new clause: For purposes of so much of the taxes imposed by sections 3201(a), 3211(a) and 3221(a) as are determined by reference to the rate in effect under section 3101(a) or 3111(a), in the case of any calendar year in which the contribution and benefit base (as determined under section 230 of the Social Security Act) is less than $400,000, clause (i) shall not apply to that part of the remuneration paid to an individual after remuneration of $400,000 for services rendered as an employee has been paid to such individual by an employer (or any person related to, or acting on behalf of, such employer, as determined by the Secretary) during the calendar year, and. Section 201(a) of the Social Security Act (42 U.S.C. For each calendar year after 2021, the national average wage index as defined in this section for such calendar year shall be deemed to be the national average wage index determined under the preceding paragraphs of this section increased by the following percentage: For calendar years 2022 through 2027, 1.4 percent. Please help us make GovTrack better address the needs of educators by joining our advisory group. Youre more than a vote, so support GovTrack today with a tip of any amount: Or keep using GovTrack for free! Democrats have several plans to protect and expand Social Security benefits. The Social Security 2100 bill would raise the special minimum benefit to about 125 percent of the poverty level. in subparagraph (A), by striking Of the amounts authorized to be made available out of the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund under the preceding sentence and all that follows through (Public Law 103296). Across-the-board benefit increase. It uses the additional revenue to increase Social Security's modest benefits and keep the program strong through the end of the century and beyond. includes compensation which is subject to the tax imposed by section 3201 or 3211 (or would be so subject but for paragraph (2) of section 3231(e)). There are lots of pluses and minuses in the Social Security 2100: A Sacred Trust bill, the 100-page Social Security revamp introduced Tuesday by Rep. John Larson, D.-Conn., according to Wade. The amendments made by this section shall apply to determinations made with respect to cost-of-living computation quarters (as defined in section 215(i)(1)(B) of the Social Security Act (42 U.S.C. Young Americans have historically been the least involved in politics, despite the huge consequences policies can have on them. Witness Statement Added . Holding SSI, Medicaid, and CHIP beneficiaries harmless. in subsection (a), by striking paragraph (7); in subsection (d), by striking paragraph (3); and. (More Info). Any such quarterly payment shall be made on the first day of such quarter and shall take into account social security benefits estimated to be received during such quarter. Section 201(a) of such Act, as amended by subsection (a) of this section, is further amended, by striking subsection (i)(1) and inserting subsection (h)(1); and. by amending paragraph (4) to read as follows: The Commissioner of Social Security shall determine according to such methods and procedures as the Commissioner may deem appropriate the total amount to be reimbursed for the cost of services under this subsection. Section 201(c) of the Social Security Act is amended by striking the fourth sentence in the matter following paragraph (5) and inserting the following: Such report shall also include actuarial analysis of the benefit cost with respect to disabled beneficiaries and their auxiliaries, to retired beneficiaries and their auxiliaries, and to survivor beneficiaries.. Board of Trustees of Social Security Trust Fund. Transition from elementary or secondary school. The term dependent relative means, in connection with an individual, a child, grandchild, niece, or nephew (of such individual or such individuals spouse or domestic partner), or a child to which the individual or the individuals spouse or domestic partner is standing in loco parentis, who is under the age of 12; or. to bait violent anti-democratic conspiracy theories or to engage in anti-semitism. To protect our Social Security system and improve benefits for current and future generations. Sec. The requirements of this paragraph are met in connection with a closure, consolidation, or new limitation on access referred to in paragraph (1) only if. 905(g)(1)(A)) is amended by striking Payments to Social Security Trust Funds and inserting Payments to the Social Security Trust Fund. For calendar years after 2049, 2.2 percent. Rep. John Larson [D-CT1] Lawmakers have a mere 13 years to fix the Social Security program before it can no longer pay full benefits, according to the most recent Social Security trustees' report. to bait violent anti-democratic conspiracy theories or to engage in anti-semitism. 402(e)) is amended. in the case of an individual who has more than 10 years of work (as defined in clause (iv)(I)), the alternative minimum amount determined under clause (ii). The criteria of this subparagraph are that. is amended, in paragraph (1)(C), by inserting except as provided in paragraph (9), before was dependent; and. 108. Special rules for remuneration from multiple employers. 1320b13) is amended, in subsection (a)(1), by adding at the end the following: Such statement shall be provided by mail unless the requesting individual chooses electronic delivery for that request. . No credit shall be determined under section 31(b) with respect to any employee for any taxable year unless the amount described in subsection (a)(1) with respect to wages received during the calendar year in which such taxable year begins exceeds the amount described in subsection (a)(2) with respect to such wages, and the amount of such credit so determined shall not exceed such excess. 426(b)) is amended, in the matter following paragraph (2), by striking For purposes of this subsection and all that follows through the end. For purposes of this subsection, the term qualified beneficiary for a calendar year means an individual in any case in which such calendar year is at least the 16th year beginning after the applicable year of eligibility for such individual. In the case of a benefit otherwise payable to an individual for a month under section 202 on the basis of the wages and self-employment income of an individual whose benefit is reduced pursuant to paragraph (1), such benefit shall be reduced for such month by the same proportion as the reduction made pursuant to paragraph (1). More accurate cost-of-living adjustment. This subsection shall be applied to monthly insurance benefits after any increase under subsection (w) and any applicable reductions and deductions under this title. Reducing Benefits for High Earners . A showing described in subparagraph (A) shall consist of a showing that, the determination of the Commissioner to close a field or hearing office, consolidate field or hearing offices, or impose a new limitation on access to a field or hearing office is arbitrary, capricious, an abuse of discretion, not in accordance with law, or not based on substantial evidence; or. Improves Social Security benefits for widows and widowersin two income households so they are not penalized for having two incomes. Someone who's 62 who's worked full-time for 30 years making $15,080 a year. 3103. 402(d)(6)(A)) is amended to read as follows: is a full-time elementary or secondary school student and has not attained the age of 22, is a qualifying post-secondary school student and has not attained the age of 26, or, is under a disability (as defined in section 223(d)) and has not attained the age of 22, or. Sec. Sec. There is hereby appropriated to the Social Security Trust Fund for the first fiscal year that begins after date of the enactment of section 203 of Social Security 2100: A Sacred Trust, and for each fiscal year thereafter, out of any moneys in the Treasury not otherwise appropriated, amounts equivalent to 100 percent of, the taxes imposed by chapter 21 (other than sections 3101(b) and 3111(b)) of the Internal Revenue Code of 1986 with respect to wages (as defined in section 3121 of such Code) reported to the Secretary of the Treasury pursuant to subtitle F of the Internal Revenue Code of 1986, as determined by the Secretary of the Treasury by applying the applicable rates of tax under such chapter (other than sections 3101(b) and 3111(b)) to such wages, which wages shall be certified by the Commissioner of Social Security on the basis of the records of wages established and maintained by such Commissioner in accordance with such reports; and. 104. by striking payments from any such Trust Fund and inserting payments from the Social Security Trust Fund. Currently, SSA makes this information available only on its website mySSA.com for those under 60. 415(i)(1)(B))) ending on September 30 of calendar years 2022 through 2026. one-half of the excess described in subsection (b)(1). Section 1402(b) of the Internal Revenue Code of 1986 is amended to read as follows: The term self-employment income means the net earnings from self-employment derived by an individual, except that such term shall not include net earnings from self-employment if such net earnings for the taxable year are less than $400. Bill Summary. The new 2021 version of the legislation the Social Security 2100 Act: A Sacred Trust reflects two maxims of the current political climate: 1) no tax increases for those earning less. The text of the bill below is as of Oct 26, 2021 (Introduced). President, Social Security Works. For purposes of this subsection, the term wages, includes such remuneration paid to an employee for services included under an agreement entered into pursuant to the provisions of section 3121(l) (relating to coverage of citizens of the United States who are employees of foreign affiliates of American employers) as would be wages under section 3121(a) if such services constituted employment under section 3121(b), and. such other relevant factors as may be determined by the Commissioner, including but not limited to transportation and communication burdens faced by individuals serviced by the offices, including elderly and disabled citizens. Section 201(c) of such Act, as amended by subsections (b) and (c)(1), is further amended. Sec. Well be in touch. in section 234(a)(1), by striking Trust Funds and inserting Trust Fund. 409(a)(1)(I)) is amended by inserting before the semicolon at the end the following: except that this subparagraph shall apply only to calendar years for which the contribution and benefit base (as so determined) is less than $400,000, and, for such calendar years, only to the extent that remuneration with respect to employment paid to such employee does not exceed $400,000. Conforming amendments related to Social Security Trust Fund. 106. 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