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Proposed 'Social Security 2100 Act' Cuts Taxes, Strengthens Benefits, Ensures Social Security Through This Century
Rep. John B. Larson (D-Conn.) Link to more items from this source
Apr. 6, 2017
"Over 11 million Social Security recipients would see a tax cut ... [The bill provides] a modest increase for all beneficiaries starting in 2016, equivalent to 2% of the average benefit.... [and improves] the annual cost of living adjustment (COLA) formula ... The new minimum benefit will be set at 25% above the poverty line rather than below it.... [The bill would] phase in an increase in the contribution that, for the average worker, equals an additional 50 cents per week every year to keep the system solvent.... This legislation would apply the payroll tax to wages above $400,000."

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