Social Security Expansion Act
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S 731 — Social Security Expansion Act
Last action — Read twice and referred to the Committee on Finance.
No card. One bill, free forever — alerts when it moves.
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✓Introduced
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✓In Committee
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Died in session
This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
This bill is no longer active — its legislative session has ended, so there is no live prognosis. It would have to be reintroduced in the current session to move again.
Summary
Social Security Expansion Act Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: increase the primary insurance amount for all eligible beneficiaries, beginning in 2021; revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers; increase the special minimum primary insurance amount for lifetime low earners based on years in the workforce. Amends the Internal Revenue Code to: (1) apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000; and (2) increase the tax on investment gain from 3.8% to 10% of the lesser of net investment income for such taxable year or the excess (if any) of the modified adjusted gross income for such taxable year, over the threshold amount, with 62% of such tax allocated to the Federal Old-Age and Survivors Insurance Trust Fund and 9% allocated to the Federal Disability Insurance Trust Fund.
Bill Text
We don't have the full text on file for this bill yet.
Read S 731 on the official United States source →Action History
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Read twice and referred to the Committee on Finance.
Sponsors
- Bernard Sanders · Primary
Sponsorship breakdown
Export CSV (upgrade) →1 sponsors · 0 co-sponsors · 546 not signed on
Sponsors (1)
Co-sponsors (0)
None.
Not signed on (546)
546 members have not signed on to this bill.
Show all 546 →"Not signed on" means a member has not sponsored or co-sponsored this bill — it does not imply opposition. Members flagged Voted No have a recorded No vote on this bill.
Subjects
Frequently asked questions
- What does S 731 do?
- Social Security Expansion Act Amends title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: increase the primary insurance amount for all eligible beneficiaries, beginning in 2021; revise computation of cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers; increase the special minimum primary insurance amount for lifetime low earners based on years in the workforce. Amends the Internal Revenue Code to: (1) apply employment and self-employment taxes to remuneration up to the contribution and benefit base and to remuneration in excess of $250,000; and (2) increase the tax on investment gain from 3.8% to 10% of the lesser of net investment income for such taxable year or the excess (if any) of the modified adjusted gross income for such taxable year, over the threshold amount, with 62% of such tax allocated to the Federal Old-Age and Survivors Insurance Trust Fund and 9% allocated to the Federal Disability Insurance Trust Fund.
- Who sponsors S 731?
- S 731 is sponsored by Bernard Sanders (I).
- What is the current status of S 731?
- This bill died with 114th Congress. It reached “In Committee” and never advanced before the session ended, so it can no longer move — a new version would have to be reintroduced in the current session.
- Where can I track S 731?
- Track S 731 free on One Click Politics — get push/email alerts when it moves.
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