8 new law on social security in Congress now
8 new law on social security in Congress now

8 new law on social security in Congress now

Rep. Pramila Jayapal, D-Wash., President of the Congressional Progressive Caucus, pressured House leaders Tuesday to pass Social Security 2100: A Sacred Trust Act, HR 5723which uses the consumer price index for the elderly as a basis for the annual cost of living adjustment (COLA) and applies the payroll tax on annual salaries above $ 400,000.

“I would like to express our strong support for HR 5723 – Social Security 2100: A Sacred Trust and encourage its swift consideration at this Congress,” Jayapal told Nancy Pelosi Speaker D-Calif. Monday in a letter.

The bill, Jayapal wrote, “increases benefits across the board in a time of higher inflation, protects low-income seniors, widows and widowers, ends waiting times for disabled people in need of support and more. It is vital that it is paid for by getting millionaires and billionaires to pay the same rate as everyone else by ensuring that the payroll tax is levied on salaries above $ 400,000. “

She called on Pelosi to move the bill to a vote in Parliament “as soon as possible.”

Rep. John Larson, D-Conn., Chairman of the House Ways and Means Social Security Subcommittee, urged its co-legislators in December to vote on the bill.

A spokesman for Larson’s office told ThinkAdvisor on Tuesday that the bill would be marked and “the plan is a vote by November.”

The 2100 bill would push to the 2038 trust fund depletion date, when it would be forced to cut benefits by 20%.

Jayapal also noted in his letter to Pelosi that the bill “makes a number of urgently needed improvements to the program, including increased retirement, disability and dependency benefits; protection against inflation; removal of sanctions against double-income households; end of five-month waiting period for disability benefit. ”

See the gallery above for eight other laws on social security in Congress now.

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