HOUSE 2304117th CongressReferred to the Subcommittee on Social Security.
Save Social Security Act of 2021
- Last Action
- 4/1/2021
Actions
- 2021-04-01Referred to the Subcommittee on Social Security.
- 2021-04-01Referred to the House Committee on Ways and Means.
- 2021-04-01Introduced in House
- 2021-04-01Introduced in House
CRS Summary
As of 2021-04-01 (00)
Save Social Security Act of 2021
This bill modifies the requirements for Social Security payroll taxes and benefits to
- apply Social Security payroll taxes to annual income above $400,000,
- include earnings above $400,000 in the benefit formula, and
- increase to $100,000 the income threshold above which a portion of a taxpayer's Social Security benefits is included in gross income.
(Under current law, Social Security payroll taxes apply to the first $142,800 of income in 2021 and a portion of benefits is included in the gross income of individuals with certain income that exceeds specified thresholds, depending on the individual's filing status.)
Subjects
- Employment taxes
- Government trust funds
- Income tax exclusion
- Self-employed
- Social security and elderly assistance
- Wages and earnings
Sourced from Congress.gov (public domain).
This is legal information, not legal advice. Laws vary by jurisdiction and change frequently. Always verify current law with official sources and consult a licensed attorney in your jurisdiction for advice on your specific situation.