3.0.0 2302 2022-11-01T19:47:14Z 2022-11-01T19:47:14Z House HR 2019-04-12 116 [Congressional Record Volume 165, Number 64 (Friday, April 12, 2019)][House]From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]By Mr. DEUTCH:H.R. 2302.Congress has the power to enact this legislation pursuantto the following:Article I, Section 8[Page H3265]]]> hsif00 Energy and Commerce Committee House Standing hsif14 Health Subcommittee Referred to 2019-04-15T19:11:52Z Referred to 2019-04-12T18:31:00Z hswm00 Ways and Means Committee House Standing hswm01 Social Security Subcommittee Referred to 2019-04-12T20:43:41Z Referred to 2019-04-12T18:30:50Z hsed00 Education and the Workforce Committee House Standing Referred to 2019-04-12T18:31:05Z Protecting and Preserving Social Security Act 116 1132 S 2019-04-10 Read twice and referred to the Committee on Finance. (Sponsor introductory remarks on measure: CR S2389) Related bill CRS 2019-04-15 hsif14 Health Subcommittee 1 House committee actions Referred to the Subcommittee on Health. Committee 2019-04-12 hswm01 Social Security Subcommittee 1 House committee actions Referred to the Subcommittee on Social Security. Committee 2019-04-12 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and Labor, 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. IntroReferral H11100 2 House floor actions hsed00 Education and the Workforce Committee 2019-04-12 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and Labor, 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. IntroReferral H11100 2 House floor actions hsif00 Energy and Commerce Committee 2019-04-12 Referred to the Committee on Ways and Means, and in addition to the Committees on Energy and Commerce, and Education and Labor, 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. IntroReferral H11100 2 House floor actions hswm00 Ways and Means Committee 2019-04-12 Introduced in House IntroReferral Intro-H 9 Library of Congress 2019-04-12 Introduced in House IntroReferral 1000 9 Library of Congress D000610 Rep. Deutch, Theodore E. [D-FL-22] Theodore Deutch D FL E. 22 N C001084 Rep. Cicilline, David N. [D-RI-1] David Cicilline D RI N. 1 2019-04-12 True S001177 Del. Sablan, Gregorio Kilili Camacho [D-MP-At Large] Gregorio Sablan D MP Kilili Camacho 0 2019-04-12 True K000009 Rep. Kaptur, Marcy [D-OH-9] MARCY KAPTUR D OH 9 2019-04-12 True H000324 Rep. Hastings, Alcee L. [D-FL-20] ALCEE HASTINGS D FL L. 20 2019-04-12 True S001168 Rep. Sarbanes, John P. [D-MD-3] John Sarbanes D MD P. 3 2019-04-12 True P000597 Rep. Pingree, Chellie [D-ME-1] Chellie Pingree D ME 1 2019-04-12 True C001068 Rep. Cohen, Steve [D-TN-9] Steve Cohen D TN 9 2019-04-12 True V000108 Rep. Visclosky, Peter J. [D-IN-1] PETER VISCLOSKY D IN J. 1 2019-05-02 False Social Welfare Census and government statistics Inflation and prices Self-employed Social security and elderly assistance Wages and earnings Social Welfare 00 2019-04-12 Introduced in House 2019-06-04T17:00:35Z Protecting and Preserving Social Security Act

This bill revises the methodology for calculating Old Age, Survivors, and Disability Insurance (OASDI) benefits and phases out the cap on compensation subject to Social Security taxation.

The bill directs the Bureau of Labor Statistics to prepare and publish a Consumer Price Index for Elderly Consumers (CPI-E) to track cost-of-living changes for individuals age 62 or older. The Social Security Administration shall use the CPI-E to calculate the cost-of-living adjustment for OASDI benefits, where it currently uses the Consumer Price Index for Urban Wage Earners and Clerical Workers.

The bill phases out and after 2025 eliminates the cap on compensation ($132,900 in 2019) subject to Social Security taxation. This change applies to both wage earners and the self-employed.

The bill also changes the calculation for the primary insurance amount (the amount received by a beneficiary who elects to receive OASDI benefits at full retirement age) by including the additional earnings that are now taxed as a result of the cap elimination.

]]> Protecting and Preserving Social Security Act Display Title Protecting and Preserving Social Security Act Official Title as Introduced To amend title II of the Social Security Act and the Internal Revenue Code of 1986 to make improvements in the old-age, survivors, and disability insurance program, and to provide for Social Security benefit protection. Introduced in House IH Short Title(s) as Introduced Protecting and Preserving Social Security Act Introduced in House IH Introduced in House 2019-04-12T04:00:00Z https://www.govinfo.gov/content/pkg/BILLS-116hr2302ih/xml/BILLS-116hr2302ih.xml 2019-04-15 Referred to the Subcommittee on Health. 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.