A bill to provide for a 7 percent increase in social security benefits beginning with benefits payable for the month of January 1974.

States that the increases in the monthly benefits and lump-sum death payments under title II of the Social Security Act shall be increased by 7 percent beginning January 1974 (presently increased by the percentage by which the Consumer Price Index for June 1973 exceeds that for June 1972, beginning April 1974).