If signed into law, the Strengthening Social Security Act would amend title II of the Social Security Act to adjust the benefit formula, resulting in a more generous monthly Social Security benefit. It would also change the way that cost-of-living adjustments are calculated by adopting a Consumer Price Index for the Elderly, and it would lift the cap on income subject to the payroll tax.
Reps. Linda Sanchez (CA-38) and Rush Holt (NJ-12) introduced H.R. 3118 on September 17, 2013. It has since been referred to the Committee on Ways and Means, and to the Committee on Education and the Workforce.
