Bill · H.R. 963· House(119-HR-963)
Protecting Social Security Act
- Introduced
- 2/4/2025
- Last activity
- 2/4/2025 — Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, 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.
- Sponsored by
- Patrick Ryan
- Cosponsors
- None
- Introduced
- In Committee
What this bill would do
This bill, known as the "Protecting Social Security Act," aims to ensure the stability of the Social Security trust funds. It requires that if the Federal Old-Age and Survivors Insurance Trust Fund or the Federal Disability Insurance Trust Fund becomes insufficient to pay benefits, an amount equal to the necessary payments must be appropriated monthly. The Act also mandates the establishment of Social Security field offices in every county with a population greater than 150,000. Additionally, it creates an expedited process for passing "Social Security solvency bills." These specific bills must ensure full benefits continue without raising taxes on most individuals or decreasing benefits, instead placing the funding burden on the ultra-wealthy and corporations.
Yes· 3 of 10
Would people over 65 be better off under this?+8
The bill guarantees the continuity of full Social Security benefits for those aged 65 and older.
Would retired people be better off under this?+8
The bill ensures that retirees continue to receive their full earned benefits regardless of trust fund insolvency.
Does this strengthen Social Security?+8
The bill ensures the continued payment of full benefits by requiring mandatory appropriations if trust funds become insufficient.
The opposite
Would people with substantial wealth be better off under this?-5
The bill specifically mandates that the ultra-wealthy bear the burden of additional Social Security funding.
Would business owners be better off under this?-4
The bill directs that the costs for Social Security solvency be borne by corporations.
Who it would affect, and how
Potential Positive Impacts for People
-
Guaranteed Benefit Payments: The bill requires that if a trust fund is insufficient to cover payments, an amount must be appropriated monthly to ensure benefits can be paid (Section 4).
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Increased Local Access: The bill mandates that the Commissioner of Social Security ensure a field office is operating in every county with a population greater than 150,000 people (Section 3). This addresses the need for local access for those who cannot seek help online or by phone (Section 2).
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Protection of Full Benefits: A qualifying "Social Security solvency bill" must ensure that people entitled to benefits continue to receive their full benefits (Section 5, subsection a, paragraph 3, subparagraph A).
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Specific Funding Source: The bill requires that any need for additional funds in a solvency bill be borne by corporations and the ultra-wealthy, rather than through tax increases on other individuals (Section 5, subsection a, paragraph 3, subparagraph C).
Potential Negative Impacts for People
- Tax Burden on Specific Groups: While the bill protects most individuals from tax increases, it specifies that any additional funds required for solvency must be borne by the ultra-wealthy and corporations (Section 5, subsection a, paragraph 3, subparagraph C).
Groups and Interests Ranking
Every group the model scored this bill for, from -10 to +10. Hover a score for the reason it gave.
- Demographic And Interest Groups
- Good For Retirees+8Good For Seniors+8Good For Low Income Households+6Good For Veterans+5Good For Children+4Good For High Net Worth Individuals-5Good For Business Owners-4
- Economy And Finance
- Improves Fiscal Responsibility+6Increases Corporate Taxes+5Increases Wealthy Taxes+5
- Social Issues And Justice
- Improves Social Security+8Improves Poverty Reduction+3
- 2/4/2025
- Referred to the Committee on Ways and Means, and in addition to the Committee on Rules, 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.
- Introduced in House