H.R. 4121 — Social Security for Future Generations Act of 2019

Summary

Social Security for Future Generations Act of 2019

This bill increases specified benefits and taxes related to the Old-Age, Survivors, and Disability Insurance (OASDI) program and otherwise modifies the program.

Changes to benefits include

increasing the primary insurance amount for certain beneficiaries;
revising the method for calculating cost-of-living adjustments by using a price index that tracks the spending patterns of older consumers;
extending benefits through age 22 to full-time students who are eligible children of deceased, disabled, or retired workers;
establishing a new minimum benefit for certain lifetime low-earners; and
establishing an alternative benefit based on combined household benefits for widows or widowers in two-income households.

Changes to taxes include subjecting earnings in excess of $250,000 to Social Security taxes. No taxes shall be applied to earnings between the contribution base (the maximum amount subject to the Social Security payroll tax, set at $137,700 for 2020) and $250,000.

In addition, the bill preserves eligibility for Supplemental Security Income payments and other means-tested programs by limiting the amount of OASDI payments considered in eligibility determinations.

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Legislative Actions

2019-07-30
Introduced in House
2019-07-30
Introduced in House
2019-07-30
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-07-30
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-07-30
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-07-30
Referred to the Committee on Ways and Means, and in addition to the Committees on Education and Labor, Transportation and Infrastructure, and Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
2019-07-30
Referred to the Subcommittee on Social Security.
2019-07-31
Referred to the Subcommittee on Railroads, Pipelines, and Hazardous Materials.
2019-07-31
Referred to the Subcommittee on Health.

Social Security for Future Generations Act of 2019

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Summary

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Legislative Actions

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