Lateefah Simon Unveils Social Security Bill Raising Benefits by $150 and Phasing Out Payroll Tax Cap
Updated
Updated · Quiver Quantitative · Jun 23
Lateefah Simon Unveils Social Security Bill Raising Benefits by $150 and Phasing Out Payroll Tax Cap
1 articles · Updated · Quiver Quantitative · Jun 23
Summary
Simon introduced the SAFE Social Security Act, a proposal to expand Social Security benefits and extend the program’s solvency for seniors and families nationwide.
More than $150 in average monthly benefits would be added under the bill, which also would phase out the payroll tax cap to help fund the expansion.
The measure would switch annual benefit updates to the Consumer Price Index for the Elderly, revising cost-of-living adjustments to better reflect older Americans’ expenses.
AFL-CIO, United Steelworkers, the Alliance for Retired Americans and Social Security Works backed the proposal, giving the bill early support from labor and retiree groups.