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Strengthening Social Security: New Tax Rules and Benefits

This act aims to strengthen the Social Security program by changing how contributions are calculated for higher earners and modifying benefit calculation rules. These changes are intended to ensure the long-term stability of the program and increase support for certain groups of citizens, such as students and low-income individuals.
Key points
Higher earnings (above $250,000 annually) will again be subject to Social Security contributions, increasing system revenue.
Increased benefits for low-income individuals with many years of work, ensuring a higher minimum retirement payment.
Changes to how annual cost-of-living adjustments (COLA) are calculated, using the Consumer Price Index for Elderly Consumers (CPI-E), which may result in higher increases.
Extended benefit eligibility for children who are full-time students up to age 23, including higher education students.
Inclusion of earnings over $250,000 in the Social Security benefit formula, potentially increasing pensions for high-income earners.
Protection for SSI, Medicaid, and CHIP beneficiaries from losing benefits due to increased Social Security payments.
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Expired
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Additional Information
Print number: 117_HR_5737
Sponsor: Rep. Lawson, Al, Jr. [D-FL-5]
Process start date: 2021-10-26
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Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Social Security for Future Generations Act of 2021

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 117_HR_5737.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2021-10-26.

What are the main provisions?

Key points include:

  • Higher earnings (above $250,000 annually) will again be subject to Social Security contributions, increasing system revenue.
  • Increased benefits for low-income individuals with many years of work, ensuring a higher minimum retirement payment.
  • Changes to how annual cost-of-living adjustments (COLA) are calculated, using the Consumer Price Index for Elderly Consumers (CPI-E), which may result in higher increases.
  • Extended benefit eligibility for children who are full-time students up to age 23, including higher education students.
  • Inclusion of earnings over $250,000 in the Social Security benefit formula, potentially increasing pensions for high-income earners.
  • Protection for SSI, Medicaid, and CHIP beneficiaries from losing benefits due to increased Social Security payments.
What is the specific legal status?

The current status is Expired.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Lawson, Al, Jr. [D-FL-5].

What is the latest detailed status?

The latest detailed status is: Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2026-01-02.

CATEGORIES

Benefits Taxes Family