3.0.0 2382 2023-01-11T13:26:20Z 2023-01-11T13:26:20Z Senate S S 2014-05-22 113 ssfi00 Finance Committee Senate Standing Referred to 2014-05-22T16:50:14Z Protecting and Preserving Social Security Act 113 649 HR 2013-04-23 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Related bill CRS No Loopholes in Social Security Taxes Act 113 1029 HR 2013-03-07 Referred to the House Committee on Ways and Means. Related bill CRS Strengthening Social Security Act of 2013 113 3118 HR 2014-01-22 Referred to the Subcommittee on Health, Employment, Labor, and Pensions. Related bill CRS Scrap the Cap Act 113 5852 HR 2014-12-11 Referred to the House Committee on Ways and Means. Related bill CRS Protecting and Preserving Social Security Act 113 308 S 2013-02-13 Read twice and referred to the Committee on Finance. Related bill CRS Keeping Our Social Security Promises Act 113 500 S 2013-03-07 Read twice and referred to the Committee on Finance. Related bill CRS Strengthening Social Security Act of 2013 113 567 S 2013-03-14 Read twice and referred to the Committee on Finance. Identical bill CRS 2014-05-22 ssfi00 Finance Committee Senate Read twice and referred to the Committee on Finance. IntroReferral 2014-05-22 Introduced in Senate IntroReferral 10000 9 Library of Congress M001176 Sen. Merkley, Jeff [D-OR] Jeff Merkley D OR N Social Welfare Aging Employment taxes Health care costs and insurance Inflation and prices Prescription drugs Self-employed Social security and elderly assistance Wages and earnings Social Welfare 00 2014-05-22 Introduced in Senate 2014-06-30T16:59:55Z Fair Raises for Seniors Act - Directs the Bureau of Labor Statistics (BLS) of the Department of Labor to publish for each calendar month a Consumer Price Index for Elderly Consumers (CPI-E) that indicates the average change over time in the prices paid by individuals in the United States who are age 62 and older for a market basket of consumer goods and services.

Amends title II (Old Age, Survivors and Disability Insurance) (OASDI) of the Social Security Act to make the CPI-E the applicable Consumer Price Index (CPI) for computation of cost-of-living increases in OASDI benefits for such individuals.

Amends the Internal Revenue Code to exclude from wages for purposes of employment and self-employment taxes (under the Federal Insurance Contributions Act [FICA] for OASDI insurance): (1) any remuneration up to $250,000 of the amount of the contribution and benefit base, and (2) only so much of that remuneration that is less than $250,000.

Amends SSA title II to include 1% or $1,000 (whichever is less) of surplus average indexed monthly earnings in the determination of primary OASDI amounts.

]]> Fair Raises for Seniors Act Display Title Fair Raises for Seniors Act Official Title as Introduced A bill to establish the Consumer Price Index for Elderly Consumers for purposes of determining cost-of-living increases under the Social Security Act, and to amend the Internal Revenue Code of 1986 to apply payroll taxes to remuneration and earnings from self-employment up to the contribution and benefit base and to remuneration in excess of $250,000, and for other purposes. Introduced in Senate IS Short Titles as Introduced Fair Raises for Seniors Act Introduced in Senate 2014-05-22T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-113s2382is/xml/BILLS-113s2382is.xml 2014-05-22 Read twice and referred to the Committee on Finance. text/xml EN Pursuant to Title 17 Section 105 of the United States Code, this file is not subject to copyright protection and is in the public domain. Congressional Research Service, Library of Congress This file contains bill summaries and statuses for federal legislation. A bill summary describes the most significant provisions of a piece of legislation and details the effects the legislative text may have on current law and federal programs. Bill summaries are authored by the Congressional Research Service (CRS) of the Library of Congress. As stated in Public Law 91-510 (2 USC 166 (d)(6)), one of the duties of CRS is "to prepare summaries and digests of bills and resolutions of a public general nature introduced in the Senate or House of Representatives". For more information, refer to the User Guide that accompanies this file.