If signed into law, H.R. 1114 will enhance Social Security benefits basing COLAs on the CPI-E, increasing monthly checks by around $65 per month, improving the Special Minimum Benefit, applying the payroll tax to income above $250,000, and applying a 6.2% tax on investment income for wealthy individuals.
Rep. Peter DeFazio (OR-4) introduced H.R. 1114 on February 16, 2017. It has been referred to the House Education and the Workforce Committee.