Bill · S. 770· Senate(119-S-770)

Social Security Expansion Act

Age: 85 years

Vermont

Introduced: 2/27/2025
Last activity: 2/27/2025 — Read twice and referred to the Committee on Finance.
Sponsored by: Bernie Sanders
Cosponsors: - 0 - 10

Social Welfare

Introduced
In Committee

What this bill would do

The Social Security Expansion Act aims to enhance benefits and ensure the long-term solvency of the Social Security program. The bill proposes an across-the-board benefit increase and adjustments to how cost-of-living increases are calculated using the Consumer Price Index for Elderly Consumers. It establishes a minimum benefit for lifetime low earners based on their years in the workforce and extends benefit eligibility for children who are full-time students. To fund these changes, the bill implements a payroll tax on higher earnings and a tax on investment gains. Additionally, it creates a unified Social Security Trust Fund.

Yes· 3 of 9

Does this strengthen Social Security?+9
The bill increases benefit amounts, adjusts cost-of-living calculations via the CPI-E, and establishes higher minimum benefits for low earners.
Would people over 65 be better off under this?+9
The bill increases monthly benefits, adjusts cost-of-living to the CPI-E, and establishes higher minimums for low earners.
Would retired people be better off under this?+8
The bill increases monthly benefits and updates cost-of-living adjustments to the CPI-E.

The opposite· 3 of 6

Would people with substantial wealth be better off under this?-7
The bill increases the tax on investment gains from 3.8 percent to 16.2 percent.
Would high-income households be better off under this?-6
The bill implements higher payroll taxes on earnings above $250,000 and a significantly higher tax on investment gains.
Would business owners be better off under this?-4
The bill increases taxes on net earnings from self-employment for those exceeding a specific threshold.