Social Security Expansion Act
Sponsored By: Representative Hoyle (OR)
In Committee
Summary
This bill would __strengthen Social Security benefits__ while remaking how the program is funded and how cost-of-living adjustments are measured. It would change the benefit formula, raise benefit floors for low earners, extend child benefits for students, and create a single, centralized Social Security Trust Fund tied to new tax rules and transfers from the general fund.
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Bill Overview
Analyzed Economic Effects
6 provisions identified: 4 benefits, 2 costs, 0 mixed.
Higher Social Security checks and new floor
If enacted, Social Security would use a higher benefit formula and set a new minimum. Starting in 2026, the first part of the formula would pay 95% instead of 90%, and the amount used there would be boosted by 18%. The Social Security Administration would recompute benefit amounts as needed. For people who first become eligible after 2025, no benefit would be below a new floor tied to years worked. The floor would use the 2025 poverty guideline for 2026 and then rise with wages; 30 or more years would mean at least 125% of that monthly amount.
One Social Security Trust Fund
If enacted, the old-age and disability trust funds would be merged into one Social Security Trust Fund. Each year, Treasury would transfer amounts equal to 100% of payroll and self-employment taxes, plus 62% of the net investment income tax, into the Fund. If assets ran low, Treasury would make monthly fallback transfers and be repaid interest. Social Security checks would be paid only from this Fund. The new structure would start on January 1 after enactment.
Higher tax on investment income
If enacted, the extra tax on net investment income would rise to 16.2% from 3.8%. More types of income would count, and you could not use net operating losses against this tax. Wages and self-employment income already taxed for Social Security or Medicare would stay excluded. The higher tax would apply to tax years beginning after enactment.
COLAs tied to senior inflation
If enacted, Social Security cost-of-living raises would be based on a price index for older consumers (CPI-E). BLS would publish the CPI-E each month starting in July of the year after enactment. The CPI-E would first apply to COLAs for computation quarters ending on or after September 30 of the second year after enactment. This could change the size of your annual COLA.
Student child benefits through age 22
If enacted, some student children could keep getting benefits until age 22. This would apply to children of workers who get disability benefits or who died insured. You must be a full-time student at a qualifying school. Time you are paid by an employer to attend, or time in jail or prison, would not count. Up to four months of nonattendance would be allowed. These changes would apply to benefits for months starting January 1, 2026.
Social Security tax up to $250,000
If enacted, in any year the Social Security wage base is below $250,000, earnings between the base and $250,000 would be taxed. This would apply to both wages and self-employment income, with special rules for successor employers and railroad pay. The change would start on January 1 of the first calendar year after enactment.
Sponsors & CoSponsors
Sponsor
Hoyle (OR)
OR • D
Cosponsors
Schakowsky
IL • D
Sponsored 2/27/2025
Carter (LA)
LA • D
Sponsored 2/27/2025
Casar
TX • D
Sponsored 2/27/2025
Chu
CA • D
Sponsored 2/27/2025
Cohen
TN • D
Sponsored 2/27/2025
Deluzio
PA • D
Sponsored 2/27/2025
Frankel, Lois
FL • D
Sponsored 2/27/2025
Jayapal
WA • D
Sponsored 2/27/2025
Khanna
CA • D
Sponsored 2/27/2025
McGovern
MA • D
Sponsored 2/27/2025
Moore (WI)
WI • D
Sponsored 2/27/2025
Nadler
NY • D
Sponsored 2/27/2025
Del. Norton, Eleanor Holmes [D-DC-At Large]
DC • D
Sponsored 2/27/2025
Pingree
ME • D
Sponsored 2/27/2025
Pocan
WI • D
Sponsored 2/27/2025
Ramirez
IL • D
Sponsored 2/27/2025
Salinas
OR • D
Sponsored 2/27/2025
Tlaib
MI • D
Sponsored 2/27/2025
Tokuda
HI • D
Sponsored 2/27/2025
Garcia (IL)
IL • D
Sponsored 3/3/2025
Adams
NC • D
Sponsored 3/3/2025
Lynch
MA • D
Sponsored 3/3/2025
Ansari
AZ • D
Sponsored 3/4/2025
Waters
CA • D
Sponsored 3/6/2025
Omar
MN • D
Sponsored 3/11/2025
Stansbury
NM • D
Sponsored 3/11/2025
Scanlon
PA • D
Sponsored 3/21/2025
Ocasio-Cortez
NY • D
Sponsored 3/21/2025
Thanedar
MI • D
Sponsored 3/21/2025
Cisneros
CA • D
Sponsored 3/25/2025
Friedman
CA • D
Sponsored 3/31/2025
Foushee
NC • D
Sponsored 4/3/2025
Craig
MN • D
Sponsored 8/26/2025
Grijalva
AZ • D
Sponsored 11/20/2025
Lee (PA)
PA • D
Sponsored 12/9/2025
Kennedy (NY)
NY • D
Sponsored 1/15/2026
Roll Call Votes
No roll call votes available for this bill.
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