If signed into law, H.R. 1902 would strengthen Social Security benefits by basing COLAs on the CPI-E, increasing monthly benefits by 2%, creating a new Special Minimum Benefit equal to 125% of the poverty line, providing a tax cut to Social Security beneficiaries, applying the payroll tax to annual income over $400,000, and gradually increasing the payroll tax rate by 0.25%.
Rep. John Larson (CT-1) introduced H.R. 1902 on April 5, 2017. It has since been referred to the Committee on Ways and Means.
Learn more about H.R. 1902 here.