If adopted, S. 478 would strengthen and expand the Social Security program by providing beneficiaries with a $70 monthly benefit boost, basing cost-of-living adjustments on the CPI-E, and setting the Special Minimum Benefit at 125 percent of the poverty line. It would also apply the payroll tax to all income – including investment income – over $250,000.
Senator Bernie Sanders (VT) introduced S. 478 on February 13, 2019. It has since been referred to the Committee on Finance.
For more information or to view a list of cosponsors, click here.