Safeguarding American Families and Expanding Social Security Act of 2025

This bill would phase in Social Security payroll taxes on wages and self-employment income above the current taxable earnings cap, starting in 2026 and applying to all such earnings by 2030. It would change the Social Security benefit formula, raising the percentage applied to the lowest band of earnings from 90 to 95 percent and adding a benefit equal to 5 percent of average earnings above the cap. It directs the Social Security Administration to recompute benefits for people whose benefit amounts were set before 2026, without lowering any benefit. It would also base yearly cost-of-living increases on a new Consumer Price Index for Elderly Consumers, which the Bureau of Labor Statistics would create and publish.

Full text and official record on Congress.gov

Sponsors

• Brian Schatz Democrat sponsor
• 1 cosponsors