The amendments made by this section shall apply with respect to applications for monthly insurance benefits filed in months in calendar years 2022 through 2026 and with respect to individuals entitled to such benefits during any such month, except that such amendments shall not apply for purposes of determining continuing eligibility or monthly benefit amounts for monthly insurance benefits for any month after calendar year 2026. 109. By joining our advisory group, you can help us make GovTrack more useful and engaging to young voters like you. Rep. John Larson [D-CT1] Elimination of work-related termination of hospital insurance benefits. 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) Section 202 of such Act (42 U.S.C. Recipients receive on average $18,500 a year. In 2027, the current-law rules would apply. ; in subsection (e)(2)(A), by striking subsection (k)(5), subsection (q), and subparagraph (D) of this paragraph and inserting subsection (k)(5), subsection (q), subsection (aa), and subparagraph (D) of this paragraph; in subsection (f)(2)(A), by striking subsection (k)(5), subsection (q), and subparagraph (D) of this paragraph and inserting subsection (k)(5), subsection (q), subsection (aa), and subparagraph (D) of this paragraph; in subsection (g)(2), by striking Such and inserting Except as provided in subsections (k)(5) and (aa), such; in subsection (h)(2)(A), by inserting and subsection (aa) after subparagraphs (B) and (C); and. transferring in and out of a bed or in and out of a chair. on this bill on a six-point scale from strongly oppose to strongly support. East Hartford, CT Today, Rep. John B. Larson (CT-01) released the following statement regarding Republicans plans for Social Security. For calendar years after 2049, 2.2 percent. in subsection (a), by striking paragraph (7); in subsection (d), by striking paragraph (3); and. 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. 2100 Act: A Sacred Trust bill could pass in 2022 and shore up the program's shortfall. inserting or, in the case of a qualifying post-secondary school student, in at least half-time attendance at a post-secondary educational institution before immediately following such period each place it appears. 202 Cosponsors Determination of self-Employment income above contribution and benefit base after 2021, Amendments to Internal Revenue Code of 1986. Primary Sponsor(s) Sen Richard Blumenthal. 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. 401 note) and section 86 of such Code as such sections were in effect on the day before the date of the enactment of this Act, at such times and in such manner as would be provided therein. 104. 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 Bureau of Labor Statistics of the Department of Labor shall prepare and publish an index for each calendar month to be known as the Consumer Price Index for Elderly Consumers that indicates changes over time in expenditures for consumption which are typical for individuals in the United States who have attained age 62. Currently, SSA makes this information available only on its website mySSA.com for those under 60. Highlights of Social Security 2100: A Sacred Trust Increases benefits for all recipients Congress has not acted to increase Social Security benefits in 50 years. Section 211(b) of the Social Security Act (42 U.S.C. Of the total revenue from taxation of social security benefits, there are appropriated to the Federal Hospital Insurance Trust Fund such amounts as would be transferred to such fund under section 121(e) of the Social Security Amendments of 1983 (42 U.S.C. Rush, Mr. Ryan, Mr. Sablan, Mr. Sarbanes, Ms. Scanlon, Ms. Schakowsky, Mr. Schiff, Ms. Schrier, Ms. Wasserman Schultz, Mr. David Scott of Georgia, Mr. Scott of Virginia, Mr. Sherman, Mr. Sires, Ms. Bush, Mr. Smith of Washington, Mr. Soto, Ms. Speier, Mr. Stanton, Ms. Strickland, Mr. Swalwell, Mr. Takano, Mr. Thompson of Mississippi, Ms. Titus, Ms. Tlaib, Mr. Tonko, Mr. Torres of New York, Mrs. Torres of California, Mrs. Trahan, Mr. Trone, Ms. Underwood, Mr. Vargas, Mr. Veasey, Mr. Vela, Ms. Velzquez, Ms. Subsection (c) of section 86 of such Code is amended to read as follows: For purposes of this section, the term base amount means. |date=October 26, 2021 However, the Biden Administration has not . Bill Summary. 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. not later than 120 days before the date of the closure, consolidation, or limitation on access, the Commissioner provides effective public notice of the proposed closure, consolidation, or limitation on access (including, to the extent practicable, notice by direct mailing and through community outlets such as newspapers and posting in heavily frequented public spaces) to individuals residing in the area serviced by the affected office or offices; the public notice issued pursuant to clause (i) includes information on, how the Commissioner will, not later than 30 days after the date of the closure, consolidation, or limitation on access, replace the loss in access resulting from the closure, consolidation, or limitation on access by establishing a new office, increasing public access to a different office, or some other means; and, how to contact the Administration if an individual experiences service delays or problems as a result of the closure, consolidation, or limitation on access; and. Subsection (m) of section 6654 of the Internal Revenue Code of 1986 is amended to read as follows: Special rule for certain employment taxes. subject to paragraph (9), in the case of a fully insured widow or surviving divorced wife, 75 percent of the sum of any old-age or disability insurance benefit for which the widow or the surviving divorced wife is entitled for such month and the primary insurance amount (as determined for purposes of this subsection after application of subparagraphs (B) and (C)) of such deceased individual. The alternative minimum amount determined under this clause is the applicable percentage of 1/12 of the annual dollar amount determined under clause (iii) for the year in which the amount is determined. Log in and is amended. 411(b)) is amended, by inserting and before 2022 after 1974; and, For any taxable year beginning in any calendar year after 2021, an amount equal to, $400,000, reduced (but not below zero) by, the part of the net earnings from self-employment (if any) which is not in excess of, the amount equal to the contribution and benefit base (as determined under section 230) which is effective for the calendar year in which such taxable year begins, minus, the amount of the wages paid to such individual during such taxable year, plus, the amount of the wages paid to such individual during such taxable year which is in excess of the amount in subclause (I)(aa); or. Subcommittee on Social Security (Committee on Ways and Means) Tuesday, December 7, 2021 (1:00 PM) 1100 LHOB Washington, D.C. was a full-time elementary or secondary school student and had not attained the age of 22, was a qualifying post-secondary school student and had not attained the age of 26, or, is under a disability (as defined in section 223(d)) which began before he attained the age of 22, and, Definition of qualifying post-Secondary school student, Section 202(d)(7) of such Act (42 U.S.C. If you log into GovTrack using Twitter, make sure you dont lose access to your GovTrack account. For calendar years 2047 through 2049, 2.1 percent. to bait violent anti-democratic conspiracy theories or to engage in anti-semitism. Subject to subparagraph (B), the term qualifying month means, in connection with an individual, any month during which such individual was engaged for not less than 80 hours in providing care to a dependent relative without monetary compensation. Visit us on Mastodon The bill would apply the Social Security payroll tax of 12.4 percent, split equally between employees and employers, to earnings and self-employment income above $400,000. 401 et seq.) 82), legislation that would repeal the Government Pension Offset (GPO) and Windfall Elimination Provision (WEP). May 4, 2022 Social Security Lawmakers may soon consider Social Security Subcommittee Chairman John Larson's (D-CT) Social Security 2100: A Sacred Trust ( A Sacred Trust ), a bill designed to expand Social Security benefits and prevent trust fund insolvency in 2034. 415(i)) is amended by adding at the end the following: Any provision of law (other than in this title, title VIII, or title XVI) which provides for adjustment of an amount based on a change in benefit amounts resulting from a determination made under this subsection shall be applied and administered without regard to the amendments made by subsections (a) and (b) of section 102 of Social Security 2100: A Sacred Trust. An individual who is not a citizen of the United States but who is a resident of the Commonwealth of Puerto Rico, the Virgin Islands, Guam, or American Samoa shall not, for purposes of this chapter, be considered to be a nonresident alien individual. Hackers/journalists/researchers: See these open data sources. Visit us on Instagram, This bill would be bad news for LeBron Jamess son Bronny James, who at age 14 accumulated more than 1 million Instagram followers in his Feb 22, 2023, Contrary to the Steve Martin and Queen Latifah film title, this legislation would be bringing up the House. Sec. Hartford, CT Today, House Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) released the following statement on the announcement that the Social Security Cost of Living Adjustment (COLA) for 2023 will be8.7 percent. Social Security 2100: A Sacred Trust, H.R. in the matter preceding paragraph (1), by striking Board of Trustees of the Trust Funds and inserting Board of Trustees of the Trust Fund; in paragraph (1), by striking Trust Funds and inserting Trust Fund; by striking Trust Funds and inserting Trust Fund; and. President Biden has called this promise a "sacred trust." It is Congress' responsibility to keep that promise and to safeguard Social Security for all Americans. by striking such Trust Fund each place it appears and inserting the Trust Fund. Section 202 of the Social Security Act (42 U.S.C. We are also still on Instagram at @govtrack.us posting 60-second summary videos of legislation in Congress. Recomputation of primary insurance amounts, Notwithstanding section 215(f) of the Social Security Act, the Commissioner of Social Security shall recompute primary insurance amounts to the extent necessary, to carry out the amendments made by this section; and. 1395) is amended. 415(a)(1)) is amended, by redesignating subparagraph (D) as subparagraph (E); and. 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. 402(d)(1)(B)) is amended to read as follows: at the time such application was filed was unmarried and. 402(f)(2)(A)) is amended by striking subsection (k)(5), subsection (q) and inserting subsection (q). 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. The amendments made by this section shall apply with respect to agreements entered into on or after January 1, 2022. 1002). 409(k)(1)), as amended by section 103(c), is further amended by inserting 202(e)(9), 202(f)(9), after sections. This bill was introduced in the 117th Congress, which met from Jan 3, 2021 to Jan 3, 2023. Whereas [Social Security 2100 Act] would have restored the program to sustainable solvency, A Sacred Trust would close half the solvency gap on paper and would actually worsen . 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