Bill · S. 2614· Senate(119-S-2614)
Protecting and Preserving Social Security Act
- Introduced
- 7/31/2025
- Last activity
- 7/31/2025 — Read twice and referred to the Committee on Finance.
- Sponsored by
- Mazie Hirono
- Cosponsors
- - 2 - 0
- Introduced
- In Committee
What this bill would do
The Protecting and Preserving Social Security Act aims to improve the old-age, survivors, and disability insurance program. It introduces a new "Consumer Price Index for Elderly Consumers" to calculate cost-of-living increases for Social Security benefits. The bill also establishes a phased system for determining wages and self-employment income above the current contribution and benefit base. Additionally, it modifies the benefit formula to include a portion of an individual's surplus earnings. These changes are intended to amend both the Social Security Act and the Internal Revenue Code of 1986.
Yes· 3 of 7
Would people over 65 be better off under this?+8
The bill benefits seniors through a new cost-of-living index tailored to elderly consumption and the inclusion of surplus earnings in benefit formulas.
Would retired people be better off under this?+8
The bill enhances retiree benefits through improved cost-of-living adjustments and a new formula for surplus earnings.
Does this strengthen Social Security?+7
The bill improves Social Security by creating a new cost-of-living index for elderly consumers and including surplus earnings in the benefit formula.
The opposite
No question was scored the opposite.
Who it would affect, and how
Potential Positive Impacts for People
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Improved Cost-of-Living Adjustments: The bill creates a "Consumer Price Index for Elderly Consumers" (CPI-E) to track expenditures typical for people aged 62 or older, which will be used to compute cost-of-living increases (Section 101 and Section 102).
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Protection of Benefit Eligibility: Increases to monthly benefit amounts resulting from the new cost-of-living calculations will not be counted as income or resources when determining eligibility for Supplemental Security Income (SSI) or Medicaid (Section 102(d)).
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Higher Benefit Calculations: The bill amends the benefit formula to include a portion of an individual's "surplus average indexed monthly earnings," which may increase the primary insurance amounts for certain individuals (Section 202(a)).
Potential Negative Impacts for People
- Reduced Taxable Income Percentages: The bill establishes a declining schedule for the percentage of wages and self-employment income that is considered subject to Social Security taxes for earnings above the contribution and benefit base, reaching 0% after 2031 (Section 201(a) and Section 201(b)).
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 High Income Households+5
- Economy And Finance
- Reduces Small Business Taxes+6Improves Economic Growth+1
- Social Issues And Justice
- Improves Social Security+7
- Healthcare
- Increases Medicaid Funding+2
- 7/31/2025
- Read twice and referred to the Committee on Finance.
- 2 Cosponsors added.
- Introduced in Senate
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.
Jeff MerkleyDemocrat · Oregon
Tina SmithDemocrat · Minnesota