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Increased Medicare and Social Security Contributions for High Earners

This bill aims to boost funding for Social Security and Medicare by changing how contributions are calculated. It primarily affects high-income individuals, who will pay more into these programs, ensuring their financial stability. The changes will take effect on January 1 of the first calendar year after the bill's enactment.
Key points
Individuals earning over $400,000 annually will pay Social Security contributions on their entire income, not just up to the current limit.
An additional 1.2% Medicare tax will be introduced for individuals earning over $400,000 (single filers) or $500,000 (joint filers).
Taxes on investment income for very high-income individuals will increase, with a portion of these revenues directed to Social Security and Medicare trust funds.
article Official text account_balance Process page
Introduced
Citizen Poll
No votes cast
Additional Information
Print number: 119_HR_3271
Sponsor: Rep. Boyle, Brendan F. [D-PA-2]
Process start date: 2025-05-08
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Summarized by: gemini-2.5-flash-preview-05-20
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Medicare and Social Security Fair Share Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_3271.

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 2025-05-08.

What are the main provisions?

Key points include:

  • Individuals earning over $400,000 annually will pay Social Security contributions on their entire income, not just up to the current limit.
  • An additional 1.2% Medicare tax will be introduced for individuals earning over $400,000 (single filers) or $500,000 (joint filers).
  • Taxes on investment income for very high-income individuals will increase, with a portion of these revenues directed to Social Security and Medicare trust funds.
What is the specific legal status?

The current status is Introduced.

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. Boyle, Brendan F. [D-PA-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-22.

CATEGORIES

Taxes Benefits Health