A bill to amend title II of the Social Security Act and the Internal Revenue Code of 1986 to make improvements in the old-age, survivors, and disability insurance program, and to provide for Social Security benefit protection.
Protecting and Preserving Social Security Act
Directs the Bureau of Labor Statistics of the Department of Labor to prepare and publish for each calendar month a Consumer Price Index for Elderly Consumers (CPI-EC) that indicates changes over time in consumption expenditures typical for individuals in the United States age 62 or older.
Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act (SSAct) to make the CPI-EC the applicable Consumer Price Index for computation of cost-of-living increases in OASDI benefits for such individuals.
Amends the Internal Revenue Code to prescribe special rules for the determination of wages and self-employment income above the contribution and benefit base after 2015.
Amends SSAct title II to include surplus average indexed monthly earnings in the determination of primary OASDI amounts.
Read twice and referred to the Committee on Finance.
Referred to the Subcommittee on Social Security.
Referred to the Subcommittee on Health, Employment, Labor, and Pensions.
Introduced in Senate
Read twice and referred to the Committee on Finance.
checking server…
Ask anything about this bill. The AI reads the full text to answer.
Enter to send · Shift+Enter for new line