# 119-s-1690: Medicare and Social Security Fair Share Act

119-s-1690, Medicare and Social Security Fair Share Act, is a 119th Congress bill sponsored by Sen. Whitehouse, Sheldon [D-RI] (D-RI); status introduced; PRIA reads it as touching household money (as of 2026-07-22).

- Canonical: https://policyrisk.com/legislation/119-s-1690
- As of: 2026-07-22
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Bill: 119-s-1690
- Congress: 119
- Title: Medicare and Social Security Fair Share Act
- Status: introduced
- Introduced: 2025-05-08
- Sponsor: Sen. Whitehouse, Sheldon [D-RI] (D-RI)
- Cosponsors: 5
- Policy area: Taxation
- Touches household money: yes
- Last recorded action: 2026-07-22

## Summary

**Raises taxes on high earners to shore up Social Security and Medicare.** The bill would expand payroll, self-employment, and net investment income taxes using defined high-income thresholds and direct revenues into the Social Security and Medicare trust funds. - Workers and employers: The bill would make wages above the current Social Security contribution base subject to payroll tax up to a $400,000 cap and add a new 1.2 percent Medicare hospital insurance tax on wages above $400,000 for most filers and $500,000 for joint filers. It also adds rules treating predecessor wages as paid by successor employers and adjusts railroad retirement compensation rules. - Self-employed people: Self-employment tax would mirror the new wage-base rules and face the same 1.2 percent additional Medicare tax on very high self-employment income above the same thresholds. The bill coordinates those taxes so income already hit by the wage-based Medicare tax is adjusted. - High-income investors and the trust funds: The net investment income tax would be recalculated using a broader "specified net income" measure with a phase-in. Beginning after 2025 the bill would split net investment income tax receipts so 71.3 percent goes to the Old-Age trust fund, 10.3 percent to Disability, and 28.7 percent to Hospital Insurance.

## Cosponsors (5)

- Sen. Klobuchar, Amy [D-MN] (D-MN), 2025-05-08T00:00:00.000Z
- Sen. Van Hollen, Chris [D-MD] (D-MD), 2025-05-08T00:00:00.000Z
- Sen. Booker, Cory A. [D-NJ] (D-NJ), 2025-05-12T00:00:00.000Z
- Sen. Gallego, Ruben [D-AZ] (D-AZ), 2025-05-12T00:00:00.000Z
- Sen. Blumenthal, Richard [D-CT] (D-CT), 2026-07-20T00:00:00.000Z

## Provisions PRIA read

- Higher investment tax to fund Social Security: cost, high. If enacted, this would raise the net investment income tax (NIIT) for many high-income taxpayers. The bill would add an extra 13.6% NIIT-style computation on an expanded NIIT base when your modified adjusted gross income is above $400,000 for singles, $500,000 for joint filers, and $250,000 for mar…
- New Medicare payroll tax for high earners: cost, high. If enacted, this would add a 1.2% Hospital Insurance (Medicare) payroll tax on wages and net self-employment income above set thresholds. The thresholds would be $500,000 for joint filers, $250,000 for married filing separately, and $400,000 in other cases. Employers would only be required to withh…
- More Social Security tax on high earners: mixed, medium. If enacted, this would change how wages and self-employment income count for Social Security taxes in years when the yearly Social Security wage base is under $400,000. Wages above the statutory base but at or below $400,000 could be treated as covered pay for Social Security. The bill would also c…

## Related bills

- 119-s-5066: Health Equity and Accountability Act of 2026
- 119-s-3990: PrEP Access and Coverage Act of 2026
- 119-s-2823: FAMILY Act
- 119-s-2763: Keep Billionaires Out of Social Security Act
- 119-s-3869: Healthy Families Act
- 119-s-51: Washington, D.C. Admission Act

## Sources
- [119-s-1690 on Congress.gov](https://www.congress.gov/bill/119th-congress/senate-bill/1690)

## Related
- [119-s-5066: Health Equity and Accountability Act of 2026](https://policyrisk.com/legislation/119-s-5066)
- [119-s-3990: PrEP Access and Coverage Act of 2026](https://policyrisk.com/legislation/119-s-3990)
- [119-s-2823: FAMILY Act](https://policyrisk.com/legislation/119-s-2823)
- [119-s-2763: Keep Billionaires Out of Social Security Act](https://policyrisk.com/legislation/119-s-2763)
- [119-s-3869: Healthy Families Act](https://policyrisk.com/legislation/119-s-3869)
- [119-s-51: Washington, D.C. Admission Act](https://policyrisk.com/legislation/119-s-51)
- [All bills in Congress](https://policyrisk.com/legislation)

Source: PRIA, https://policyrisk.com/legislation/119-s-1690 (as of 2026-07-22).