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.
Sen. Tom Harkin (IA) introduced S. 567 on March 14, 2013. It has since been referred to the Committee on Finance.
