Bill · H.R. 3271· House(119-HR-3271)
Medicare and Social Security Fair Share Act
- Introduced
- 5/8/2025
- Last activity
- 5/8/2025 — Referred to the House Committee on Ways and Means.
- Sponsored by
- Brendan Boyle
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
The "Medicare and Social Security Fair Share Act" aims to increase funding for Social Security and Medicare by amending the Internal Revenue Code of 1986. The bill modifies payroll taxes by changing the wage base for Social Security and imposing a new hospital insurance tax on high-income earners. It also adjusts taxes on self-employment income and net investment income. Specifically, it introduces an additional tax for taxpayers exceeding certain income thresholds. Finally, the bill directs a portion of these new taxes toward the Social Security and Medicare trust funds.
Yes· 3 of 8
Does this put more money into Medicare, the health coverage for people over 65?+8
The bill explicitly increases funding for the Federal hospital insurance trust fund.
Does this strengthen Social Security?+8
The bill increases funding for the Social Security and Disability Insurance trust funds.
Would people over 65 be better off under this?+8
The bill increases funding for Social Security and Medicare, which are vital for seniors.
The opposite· 3 of 5
Would high-income households be better off under this?-8
High-income earners face new payroll taxes and increased taxes on net investment income.
Would people with substantial wealth be better off under this?-8
The bill increases tax rates on certain trusts and estates and net investment income.
Would the very wealthiest people be better off under this?-8
Increased taxes on high-income thresholds and investment income negatively impact very wealthy individuals.
Who it would affect, and how
Potential Positive Impacts for People
-
Increased Funding for Social Security and Medicare: The bill increases the amount of money directed to the Federal old-age and survivors trust fund, the Federal disability insurance trust fund, and the Federal hospital insurance trust fund through new tax revenues (Section 4).
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Modified Payroll Tax Caps: The bill changes the wage base for Social Security taxes to apply to remuneration up to $400,000 (Section 2).
Potential Negative Impacts for People
-
New Additional Hospital Insurance Tax: High-income earners will face a new 1.2 percent tax on wages or self-employment income that exceeds specific thresholds, such as $500,000 for joint returns or $400,000 for other cases (Section 2 and Section 3).
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Increased Tax on Net Investment Income: Individuals with high modified adjusted gross income will face an increased tax rate of 13.6 percent on specified net income or net investment income (Section 4).
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Higher Tax Rates for Trusts and Estates: The bill increases the rate for certain taxes on trusts and estates from 3.8 percent to 17.4 percent (Section 4).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Healthcare
- Increases Medicare Funding+8
- Social Issues And Justice
- Improves Social Security+8
- Economy And Finance
- Improves Fiscal Responsibility+3Increases Wealthy Taxes-7
- Demographic And Interest Groups
- Good For Retirees+8Good For Seniors+8Good For People With Disabilities+7Good For Low Income Households+4Good For Middle Class Households+2Good For Billionaires-8Good For High Income Households-8Good For High Net Worth Individuals-8Good For Ultra High Net Worth Individuals-8
- 5/8/2025
- Referred to the House Committee on Ways and Means.
- Introduced in House
One bill Congress.gov lists as related to this one — companions in the other chamber, earlier versions, and bills this one absorbed or was folded into.