HB 24-09: Protect and Expand Social Security Act (Passed)
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  HB 24-09: Protect and Expand Social Security Act (Passed)
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Author Topic: HB 24-09: Protect and Expand Social Security Act (Passed)  (Read 890 times)
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« on: May 23, 2020, 09:55:19 AM »
« edited: June 05, 2020, 05:28:00 PM by Speaker Thumb21 »

Quote
PROTECT AND EXPAND SOCIAL SECURITY ACT

To protect and expand Social Security.

Be it enacted by the Congress of the Republic of Atlasia assembled
Quote
SECTION I: TITLE.
This law shall be referred to as the Protect and Expand Social Security Act.

SECTION II: FINDINGS.

(a) Social Security is a very popular and successful program that has provided an important safety net for millions of Atlasians and a more secure retirement for Elderly Atlasians.

(b) Since the creation of Social Security, poverty among seniors has been drastically cut.

(c) The Social Security Administration estimates that by 2037, the Social Security Trust Funds will be depleted. After this point, the Social Security Administration will be unable to provide benefits in full for the first time since the program's creation.

(d) Congress resolves that Social Security must be protected and expanded and that it must therefore act to provide new sources of revenue and ensure that recipients continue to recieve adequate benefits in full.

SECTION III: STRENGTHENING OF BENEFITS.

(a) 42 U.S. Code § 415 (a)(1)(A)(i) shall be amended as follows:

Quote
(i) 90 93 percent of the individual's average indexed monthly earnings (determined under subsection (b)) to the extent that such earnings do not exceed the amount established for purposes of this clause by subparagraph (B),

(b) The Social Security Administration shall hereby utilise the Consumer Price Index for the Elderly (CPI-E) as published by the Bureau of Labor Statistics when calculating cost-of-living adjustments to benefits.

(c) 42 U.S. Code § 415 (a)(1) shall be amended follows:
 (i) By redesignating subparagraph (D) as subparagraph (E).
 (ii) By inserting after subparagraph (C) the following new subparagraph:

Quote
(D)
 (i) Effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits (or die before becoming so eligible) after 2019, no primary insurance amount computed under subparagraph (A) may be less than the greater of:
  (I) The minimum monthly amount computed under subparaghraph (C); or
  (II) In the case of an individual who has more than 10 years of work (as defined in clause (iv)(I)), the alternative minimum amount determined under clause (ii).
 (ii)
  (I) The alternative minimum amount determined under this clause is the applicable percentage of one twelth of the annual dollar amount determined under clause (iii) for the year in which the amount is determined.
  (II) For purposes of subclause (I), the applicable percentage is the percentage specified in connection with the number of years of work, as set fourth in the following table:
 
Quote
Quote
Key:-
Number of years of work: Applicable percentage

11: 6.25%
12: 12.50%
13: 18.75%
14: 25.00%
15: 31.25%
16: 37.50%
17: 43.75%
18: 50.00%
19: 56.25%
20: 62.80%
21: 68.75%
22: 75.00%
23: 81.25%
24: 87.50%
25: 93.75%
26: 100.00%
27: 106.25%
28: 112.50%
29: 118.75%
30+: 125.00%

 (iii) The annual dollar amount determined under this clause is:
  (I) For calendar year 2021, the poverty guideline for 2020.
  (II) For any calendar year after 2021, the annual dollar amount for 2021 multiplied by the ratio of:
   (aa) The national average wage index (as defined in section 409(k)(1) of this title) for the second callendar year preceding the calendar year for which the determine is made, to.
   (bb) The national average wage index for 2019.
 (iv) For the purposes of this subparagraph:
  (I) The term "year of work" means, with respect to an individual, a year to to which 4 quarters of coverage have been credited based on such individual's wages and self-employment income.
  (II) The term "poverty guideline for 2020" means the annual poverty guideline for 2020 (as updated annually in the Federal Register by the Department of Health and Human Services under the authority of section 673(2) of the Omnibus Budget Reconciliation Act of 1981) as applicable to a single individual.

(d) 42 U.S. Code § 409 (k)(1) shall be amended by inserting "415(a)(1)(E)" after "415(a)(1)(E)".

(e) All individuals who do not meet the eligibility requirements specified under 42 U.S. Code § 402 (d) shall now be eligible for Child's Insurance Benefits if they:
 (i) Have not attained the age of 22.
 (ii) Are in full-time education at a college or vocational school.
 
(f) For the purposes of the calculation of average indexed monthly earnings, future beneficiaries shall be eligible to recieve credit equal to one twelth of the annual median wage of the relevant year for each month of that year in which they have not been in full-time employment and in which they have provided at least 80 hours of unpaid caregiving to:
 (i) A child under the age of 6.
 (ii) A dependent with a disability.
 (iii) An elderly relative.
 
(g) Current recipients shall be eligible to recieve credit established by subsection (f) retroactively by five years.

(h) 42 U.S. Code § 402 (e)(B) is hereby struck out and provisions are re-numbered accordingly.

(i) 42 U.S. Code § 402 (f)(B) is hereby struck out and provisions are re-numbered accordingly.

(j) For purposes of determining the income of an individual to establish eligibility for, and the amount of, benefits payable under title XVI of the Social Security Act, eligibility for medical assistance under the State plan under title XIX (or a waiver of such plan), or eligibility for child health assistance under the State child health plan under title XXI (or a waiver of the plan), the amount of any benefit to which the individual is entitled under title II of such Act shall be deemed not to exceed the amount of the benefit that would be determined for such individual under such title as in effect on the day before the date of the enactment of this Act.

SECTION IV: ADMINISTRATION OF SOCIAL SECURITY.

(a) The annual budget of the Social Security Administration shall be increased by 5% for FY 2021.
 (i) The annual budget of the Social Security Administration shall be increased by a further 1% for every FY starting from FY 2022 for 5 consecutive years.

(b) The Social Security Administration shall hereby be instructed to merge the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to form the Social Security Trust Fund.

SECTION V: SOCIAL SECURITY PAYROLL TAX REFORM.

(a) The Maximum Taxable Earnings cap for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be phased out.
(b) From the 1st of January 2024, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased to 0.6% on earnings above the Maximum Taxable Earnings cap.
 (i) On the 1st of January of every subsequent year, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased by an additional 0.7% on earnings above the Maximum Earnings cap.
 (ii) This process shall continue until the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax paid on earnings above the Maximum Taxable Earnings cap is equal to the rate paid on earnings below the cap - the Maximum Taxable Earnings cap thereby being eliminated.
(c) A Minimum Taxable Earning cap of $15,000 shall be added for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (i) All earnings below this cap shall not be taxed under the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (ii) The Minimum Taxable Earning cap shall be adjusted for inflation on an annual basis.
 
 SECTION VI: IMPLEMENTATION.

(a) Unless otherwise stated, the provisions of this act shall take effect on the 1st of January 2021.

Sponsor: Thumb21
House Designation: HB 24-09

72 hours to debate.
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thumb21
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« Reply #1 on: May 23, 2020, 10:00:36 AM »

This bill is aimed at protecting and expanding Social Security, as the title says. The Social Security trust funds are expected to be depleted at some point in the mid 2030s. This leaves us with two options, either we protect and expand Social Security or we cut it. Social Security has drastically cut poverty among the elderly by providing an important safety net. So, I believe we should expand and protect Social Security.

Here's a breakdown of what the bill does:

Section III:
a. This section provides a blanket increase of benefits for everyone by making a simple change to the formula.
b. This changes the Consumer Price Index that is used for calculating cost-of-living adjustments from the CPI-W which is currently used to the CPI-E which is geared more towards the cost of living for elderly people.
c. This creates a new special minimum benefit at 125% of the poverty level. This primarily helps recipients who weren't paid very well in their working life and therefore don't get as much money from Social Security and therefore struggle to cover their costs of living.
d. This is just renumbering to deal with the creation of a new subparagraph in subsection c.
e. Extends child benefits to students up to the age of 22. This helps the children of disabled or deceased parents pay for their costs of living and educational costs.
f. This provides credits to people who've had to stop full time work for part of their life to provide unpaid care for a child or a relative. Under the current system, they'd be penalised for this because it reduces the average of the wage records they submit when they apply for Social Security.
g. This allows current recipients to retroactively apply for the credits given in subsection f by up to 5 years.
h. This removes the minimum age for widow benefits. If you lose your wife or husband, you need some financial support regardless of your age.
i. This removes the minimum age for widower benefits, see above.
j. This makes it so any increased benefits that come as a result of this bill do not count as income when determining someone's eligibility for Medicaid (I just remembered that Medicaid was merged into AtlasCare as I was typing this, so I'll fix that soon), CHIP and SSI benefits.

Section IV:
a. This increases the Administrative Budget for the Social Security Administration, which has been cut in recent years and has led to a lower quality service. This also helps deal with some of the extra administrative costs that will come as a result of this bill.
b. This merges the two trust funds to form a single one. This will allow more efficiency and avoid the political wrangling and bureaucracy around transfering funds from one to the other.

Section V:
a/b. This phases out the Social Security cap over 19 years starting in 2024, with a gradual increase in payroll taxes on income above the cap over those years. This will significantly boost revenue for the trust fund which will pay for the benefit increases in Section III and significantly extend the solvency of the Social Security. Note that the tax is increased at a fixed rate every year, so if the overall rate of tax is changed, the length of the phase-in changes.
c. This adds a new minimum cap which means income below $15,000 will no longer be included in Social Security taxes, providing a significant tax cut for low income Atlasians.
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Elcaspar
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« Reply #2 on: May 23, 2020, 05:31:29 PM »

I am fully supportive of this bill's goals. We must expand and protect Social Security, so that we will be able to care for people who are in their twilight years.
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« Reply #3 on: May 23, 2020, 07:10:43 PM »

Quality work, Thumb! I think this is pretty good but I'd like to hear some more people's thoughts on this.
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« Reply #4 on: May 23, 2020, 11:53:17 PM »

I have been keen on doing this for a while. Congress should pass this and I'd enthusiastically sign it. It's important that we protect and strengthen this great program for decades to come.
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« Reply #5 on: May 24, 2020, 08:00:42 PM »

Section IV:
a. This increases the Administrative Budget for the Social Security Administration, which has been cut in recent years and has led to a lower quality service. This also helps deal with some of the extra administrative costs that will come as a result of this bill.

Is this something that happened IRL or in-game?
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« Reply #6 on: May 25, 2020, 01:14:32 PM »

Section IV:
a. This increases the Administrative Budget for the Social Security Administration, which has been cut in recent years and has led to a lower quality service. This also helps deal with some of the extra administrative costs that will come as a result of this bill.

Is this something that happened IRL or in-game?

IRL: https://www.ssa.gov/OACT/STATS/admin.html

The budget has been cut quite significantly since 2010. This has led to staffing shortages, while workloads are increasing very quickly due to more and more people reaching retirement. I'm not aware of any changes to the social security admin budget since reset.
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Fmr. Representative Encke
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« Reply #7 on: May 26, 2020, 12:43:50 PM »

Section IV:
a. This increases the Administrative Budget for the Social Security Administration, which has been cut in recent years and has led to a lower quality service. This also helps deal with some of the extra administrative costs that will come as a result of this bill.

Is this something that happened IRL or in-game?

IRL: https://www.ssa.gov/OACT/STATS/admin.html

The budget has been cut quite significantly since 2010. This has led to staffing shortages, while workloads are increasing very quickly due to more and more people reaching retirement. I'm not aware of any changes to the social security admin budget since reset.

I asked because there actually has been a 'cut' of sorts to social security (and the social security administration) that occurred in-game when you were Deputy GM; some sort of multiplier was applied to all of the spending numbers, so the social security line in the budget was about 110 billion less than the RL value in FY 2018. Now that it's 2020, we are behind by around 150 billion, because that line has remained the same in every budget since (really, Congress should have been updating spending numbers every year).

So it might be worth it to fix that problem either here or in the FY2021 budget.
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cinyc
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« Reply #8 on: May 26, 2020, 11:45:44 PM »

Are we still capping the amount people can earn if we're no longer capping what people can get taxed?
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« Reply #9 on: May 28, 2020, 09:55:52 AM »

Section IV:
a. This increases the Administrative Budget for the Social Security Administration, which has been cut in recent years and has led to a lower quality service. This also helps deal with some of the extra administrative costs that will come as a result of this bill.

Is this something that happened IRL or in-game?

IRL: https://www.ssa.gov/OACT/STATS/admin.html

The budget has been cut quite significantly since 2010. This has led to staffing shortages, while workloads are increasing very quickly due to more and more people reaching retirement. I'm not aware of any changes to the social security admin budget since reset.

I asked because there actually has been a 'cut' of sorts to social security (and the social security administration) that occurred in-game when you were Deputy GM; some sort of multiplier was applied to all of the spending numbers, so the social security line in the budget was about 110 billion less than the RL value in FY 2018. Now that it's 2020, we are behind by around 150 billion, because that line has remained the same in every budget since (really, Congress should have been updating spending numbers every year).

So it might be worth it to fix that problem either here or in the FY2021 budget.

I think thats a problem with the budget overall rather than specifically to Social Security so it'd probably be best to sort this out in the budget process, which hopefully we should get started on soon if we want to get it done on time.

Are we still capping the amount people can earn if we're no longer capping what people can get taxed?

The current maximum seems fine to me. Someone earning enough to get affected by the removing of the cap is likely to have other options for their retirement in addition to social security.
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cinyc
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« Reply #10 on: May 28, 2020, 02:11:53 PM »

I’m not voting for a tax hike that caps benefits for those who pay more in. Social Security is not supposed to be a general tax. The tax paid is supposed to be related to the amount received in retirement.
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« Reply #11 on: May 29, 2020, 02:20:19 AM »

This is a well crafted bill and I'm not sure how much more I can substantively add here. I wholly support it.
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« Reply #12 on: May 29, 2020, 01:40:53 PM »

I’m not voting for a tax hike that caps benefits for those who pay more in. Social Security is not supposed to be a general tax. The tax paid is supposed to be related to the amount received in retirement.

The point of social security is to pool resources so that everyone can enjoy a basic amount of security in retirement. The inevitable result of that is that some people will pay less in and get more out of it and vice versa. Everyone will pay the same percentage of their income under this plan, and it doesn't really need to be said that 12.4% of your wage is a much bigger sacrifice to make if you are making $25,000 compared to if you are making $300,000, even if that percentage contributes less money into the system.
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cinyc
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« Reply #13 on: May 29, 2020, 06:08:25 PM »

I’m not voting for a tax hike that caps benefits for those who pay more in. Social Security is not supposed to be a general tax. The tax paid is supposed to be related to the amount received in retirement.

The point of social security is to pool resources so that everyone can enjoy a basic amount of security in retirement. The inevitable result of that is that some people will pay less in and get more out of it and vice versa. Everyone will pay the same percentage of their income under this plan, and it doesn't really need to be said that 12.4% of your wage is a much bigger sacrifice to make if you are making $25,000 compared to if you are making $300,000, even if that percentage contributes less money into the system.

The point of Social Security is that it's not yet another excuse to soak the so-called rich without giving them commensurate benefits.

I'll probably be the only one, but unless you uncap the amount you can earn, I'm voting no.
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« Reply #14 on: May 30, 2020, 10:29:30 AM »

A small amendment to replace the reference to Medicaid, which has now been merged into AtlasCare.

Quote
PROTECT AND EXPAND SOCIAL SECURITY ACT

To protect and expand Social Security.

Be it enacted by the Congress of the Republic of Atlasia assembled
Quote
SECTION I: TITLE.
This law shall be referred to as the Protect and Expand Social Security Act.

SECTION II: FINDINGS.

(a) Social Security is a very popular and successful program that has provided an important safety net for millions of Atlasians and a more secure retirement for Elderly Atlasians.

(b) Since the creation of Social Security, poverty among seniors has been drastically cut.

(c) The Social Security Administration estimates that by 2037, the Social Security Trust Funds will be depleted. After this point, the Social Security Administration will be unable to provide benefits in full for the first time since the program's creation.

(d) Congress resolves that Social Security must be protected and expanded and that it must therefore act to provide new sources of revenue and ensure that recipients continue to recieve adequate benefits in full.

SECTION III: STRENGTHENING OF BENEFITS.

(a) 42 U.S. Code § 415 (a)(1)(A)(i) shall be amended as follows:

Quote
(i) 90 93 percent of the individual's average indexed monthly earnings (determined under subsection (b)) to the extent that such earnings do not exceed the amount established for purposes of this clause by subparagraph (B),

(b) The Social Security Administration shall hereby utilise the Consumer Price Index for the Elderly (CPI-E) as published by the Bureau of Labor Statistics when calculating cost-of-living adjustments to benefits.

(c) 42 U.S. Code § 415 (a)(1) shall be amended follows:
 (i) By redesignating subparagraph (D) as subparagraph (E).
 (ii) By inserting after subparagraph (C) the following new subparagraph:

Quote
(D)
 (i) Effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits (or die before becoming so eligible) after 2019, no primary insurance amount computed under subparagraph (A) may be less than the greater of:
  (I) The minimum monthly amount computed under subparaghraph (C); or
  (II) In the case of an individual who has more than 10 years of work (as defined in clause (iv)(I)), the alternative minimum amount determined under clause (ii).
 (ii)
  (I) The alternative minimum amount determined under this clause is the applicable percentage of one twelth of the annual dollar amount determined under clause (iii) for the year in which the amount is determined.
  (II) For purposes of subclause (I), the applicable percentage is the percentage specified in connection with the number of years of work, as set fourth in the following table:
 
Quote
Quote
Key:-
Number of years of work: Applicable percentage

11: 6.25%
12: 12.50%
13: 18.75%
14: 25.00%
15: 31.25%
16: 37.50%
17: 43.75%
18: 50.00%
19: 56.25%
20: 62.80%
21: 68.75%
22: 75.00%
23: 81.25%
24: 87.50%
25: 93.75%
26: 100.00%
27: 106.25%
28: 112.50%
29: 118.75%
30+: 125.00%

 (iii) The annual dollar amount determined under this clause is:
  (I) For calendar year 2021, the poverty guideline for 2020.
  (II) For any calendar year after 2021, the annual dollar amount for 2021 multiplied by the ratio of:
   (aa) The national average wage index (as defined in section 409(k)(1) of this title) for the second callendar year preceding the calendar year for which the determine is made, to.
   (bb) The national average wage index for 2019.
 (iv) For the purposes of this subparagraph:
  (I) The term "year of work" means, with respect to an individual, a year to to which 4 quarters of coverage have been credited based on such individual's wages and self-employment income.
  (II) The term "poverty guideline for 2020" means the annual poverty guideline for 2020 (as updated annually in the Federal Register by the Department of Health and Human Services under the authority of section 673(2) of the Omnibus Budget Reconciliation Act of 1981) as applicable to a single individual.

(d) 42 U.S. Code § 409 (k)(1) shall be amended by inserting "415(a)(1)(E)" after "415(a)(1)(E)".

(e) All individuals who do not meet the eligibility requirements specified under 42 U.S. Code § 402 (d) shall now be eligible for Child's Insurance Benefits if they:
 (i) Have not attained the age of 22.
 (ii) Are in full-time education at a college or vocational school.
 
(f) For the purposes of the calculation of average indexed monthly earnings, future beneficiaries shall be eligible to recieve credit equal to one twelth of the annual median wage of the relevant year for each month of that year in which they have not been in full-time employment and in which they have provided at least 80 hours of unpaid caregiving to:
 (i) A child under the age of 6.
 (ii) A dependent with a disability.
 (iii) An elderly relative.
 
(g) Current recipients shall be eligible to recieve credit established by subsection (f) retroactively by five years.

(h) 42 U.S. Code § 402 (e)(B) is hereby struck out and provisions are re-numbered accordingly.

(i) 42 U.S. Code § 402 (f)(B) is hereby struck out and provisions are re-numbered accordingly.

(j) For purposes of determining the income of an individual to establish eligibility for, and the amount of, benefits payable under title XVI of the Social Security Act, eligibility for medical assistance under the Reforming and Regionalizing Public Healthcare Act of 2017 State plan and other medical assistance under title XIX (or a waiver of such plan), or eligibility for child health assistance under the State child health plan under title XXI (or a waiver of the plan), the amount of any benefit to which the individual is entitled under title II of such Act shall be deemed not to exceed the amount of the benefit that would be determined for such individual under such title as in effect on the day before the date of the enactment of this Act.

SECTION IV: ADMINISTRATION OF SOCIAL SECURITY.

(a) The annual budget of the Social Security Administration shall be increased by 5% for FY 2021.
 (i) The annual budget of the Social Security Administration shall be increased by a further 1% for every FY starting from FY 2022 for 5 consecutive years.

(b) The Social Security Administration shall hereby be instructed to merge the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to form the Social Security Trust Fund.

SECTION V: SOCIAL SECURITY PAYROLL TAX REFORM.

(a) The Maximum Taxable Earnings cap for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be phased out.
(b) From the 1st of January 2024, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased to 0.6% on earnings above the Maximum Taxable Earnings cap.
 (i) On the 1st of January of every subsequent year, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased by an additional 0.7% on earnings above the Maximum Earnings cap.
 (ii) This process shall continue until the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax paid on earnings above the Maximum Taxable Earnings cap is equal to the rate paid on earnings below the cap - the Maximum Taxable Earnings cap thereby being eliminated.
(c) A Minimum Taxable Earning cap of $15,000 shall be added for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (i) All earnings below this cap shall not be taxed under the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (ii) The Minimum Taxable Earning cap shall be adjusted for inflation on an annual basis.
 
 SECTION VI: IMPLEMENTATION.

(a) Unless otherwise stated, the provisions of this act shall take effect on the 1st of January 2021.
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Elcaspar
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« Reply #15 on: May 31, 2020, 09:22:02 PM »

Once the amendment has been adopted, i will motion for a final vote on the bill.
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« Reply #16 on: June 01, 2020, 10:22:28 AM »

Amendment is adopted
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« Reply #17 on: June 02, 2020, 08:35:25 AM »

Final Vote

72 hours
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« Reply #18 on: June 02, 2020, 08:36:39 AM »

Aye
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« Reply #19 on: June 02, 2020, 03:34:21 PM »

Aye
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« Reply #20 on: June 02, 2020, 06:22:33 PM »

Nay
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« Reply #21 on: June 04, 2020, 09:51:23 AM »

Aye
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« Reply #22 on: June 04, 2020, 06:34:46 PM »

Aye
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« Reply #23 on: June 05, 2020, 05:27:31 PM »

Passed

4-1-0-4
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« Reply #24 on: June 06, 2020, 07:25:16 PM »
« Edited: June 09, 2020, 12:25:37 PM by Speaker Thumb21 »

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PROTECT AND EXPAND SOCIAL SECURITY ACT

To protect and expand Social Security.

Be it enacted by the Congress of the Republic of Atlasia assembled
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SECTION I: TITLE.
This law shall be referred to as the Protect and Expand Social Security Act.

SECTION II: FINDINGS.

(a) Social Security is a very popular and successful program that has provided an important safety net for millions of Atlasians and a more secure retirement for Elderly Atlasians.

(b) Since the creation of Social Security, poverty among seniors has been drastically cut.

(c) The Social Security Administration estimates that by 2037, the Social Security Trust Funds will be depleted. After this point, the Social Security Administration will be unable to provide benefits in full for the first time since the program's creation.

(d) Congress resolves that Social Security must be protected and expanded and that it must therefore act to provide new sources of revenue and ensure that recipients continue to recieve adequate benefits in full.

SECTION III: STRENGTHENING OF BENEFITS.

(a) 42 U.S. Code § 415 (a)(1)(A)(i) shall be amended as follows:

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(i) 90 93 percent of the individual's average indexed monthly earnings (determined under subsection (b)) to the extent that such earnings do not exceed the amount established for purposes of this clause by subparagraph (B),

(b) The Social Security Administration shall hereby utilise the Consumer Price Index for the Elderly (CPI-E) as published by the Bureau of Labor Statistics when calculating cost-of-living adjustments to benefits.

(c) 42 U.S. Code § 415 (a)(1) shall be amended follows:
 (i) By redesignating subparagraph (D) as subparagraph (E).
 (ii) By inserting after subparagraph (C) the following new subparagraph:

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(D)
 (i) Effective with respect to the benefits of individuals who become eligible for old-age insurance benefits or disability insurance benefits (or die before becoming so eligible) after 2019, no primary insurance amount computed under subparagraph (A) may be less than the greater of:
  (I) The minimum monthly amount computed under subparaghraph (C); or
  (II) In the case of an individual who has more than 10 years of work (as defined in clause (iv)(I)), the alternative minimum amount determined under clause (ii).
 (ii)
  (I) The alternative minimum amount determined under this clause is the applicable percentage of one twelth of the annual dollar amount determined under clause (iii) for the year in which the amount is determined.
  (II) For purposes of subclause (I), the applicable percentage is the percentage specified in connection with the number of years of work, as set fourth in the following table:
 
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Key:-
Number of years of work: Applicable percentage

11: 6.25%
12: 12.50%
13: 18.75%
14: 25.00%
15: 31.25%
16: 37.50%
17: 43.75%
18: 50.00%
19: 56.25%
20: 62.80%
21: 68.75%
22: 75.00%
23: 81.25%
24: 87.50%
25: 93.75%
26: 100.00%
27: 106.25%
28: 112.50%
29: 118.75%
30+: 125.00%

 (iii) The annual dollar amount determined under this clause is:
  (I) For calendar year 2021, the poverty guideline for 2020.
  (II) For any calendar year after 2021, the annual dollar amount for 2021 multiplied by the ratio of:
   (aa) The national average wage index (as defined in section 409(k)(1) of this title) for the second callendar year preceding the calendar year for which the determine is made, to.
   (bb) The national average wage index for 2019.
 (iv) For the purposes of this subparagraph:
  (I) The term "year of work" means, with respect to an individual, a year to to which 4 quarters of coverage have been credited based on such individual's wages and self-employment income.
  (II) The term "poverty guideline for 2020" means the annual poverty guideline for 2020 (as updated annually in the Federal Register by the Department of Health and Human Services under the authority of section 673(2) of the Omnibus Budget Reconciliation Act of 1981) as applicable to a single individual.

(d) 42 U.S. Code § 409 (k)(1) shall be amended by inserting "415(a)(1)(E)" after "415(a)(1)(E)".

(e) All individuals who do not meet the eligibility requirements specified under 42 U.S. Code § 402 (d) shall now be eligible for Child's Insurance Benefits if they:
 (i) Have not attained the age of 22.
 (ii) Are in full-time education at a college or vocational school.
 
(f) For the purposes of the calculation of average indexed monthly earnings, future beneficiaries shall be eligible to recieve credit equal to one twelth of the annual median wage of the relevant year for each month of that year in which they have not been in full-time employment and in which they have provided at least 80 hours of unpaid caregiving to:
 (i) A child under the age of 6.
 (ii) A dependent with a disability.
 (iii) An elderly relative.
 
(g) Current recipients shall be eligible to recieve credit established by subsection (f) retroactively by five years.

(h) 42 U.S. Code § 402 (e)(B) is hereby struck out and provisions are re-numbered accordingly.

(i) 42 U.S. Code § 402 (f)(B) is hereby struck out and provisions are re-numbered accordingly.

(j) For purposes of determining the income of an individual to establish eligibility for, and the amount of, benefits payable under title XVI of the Social Security Act, eligibility for medical assistance under the Reforming and Regionalizing Public Healthcare Act of 2017and other medical assistance under title XIX (or a waiver of such plan), or eligibility for child health assistance under the State child health plan under title XXI (or a waiver of the plan), the amount of any benefit to which the individual is entitled under title II of such Act shall be deemed not to exceed the amount of the benefit that would be determined for such individual under such title as in effect on the day before the date of the enactment of this Act.

SECTION IV: ADMINISTRATION OF SOCIAL SECURITY.

(a) The annual budget of the Social Security Administration shall be increased by 5% for FY 2021.
 (i) The annual budget of the Social Security Administration shall be increased by a further 1% for every FY starting from FY 2022 for 5 consecutive years.

(b) The Social Security Administration shall hereby be instructed to merge the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to form the Social Security Trust Fund.

SECTION V: SOCIAL SECURITY PAYROLL TAX REFORM.

(a) The Maximum Taxable Earnings cap for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be phased out.
(b) From the 1st of January 2024, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased to 0.6% on earnings above the Maximum Taxable Earnings cap.
 (i) On the 1st of January of every subsequent year, the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax shall be increased by an additional 0.7% on earnings above the Maximum Earnings cap.
 (ii) This process shall continue until the rate of Old Age, Survivors and Disability Insurance (OASDI) payroll tax paid on earnings above the Maximum Taxable Earnings cap is equal to the rate paid on earnings below the cap - the Maximum Taxable Earnings cap thereby being eliminated.
(c) A Minimum Taxable Earning cap of $15,000 shall be added for the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (i) All earnings below this cap shall not be taxed under the Old Age, Survivors and Disability Insurance (OASDI) payroll tax.
 (ii) The Minimum Taxable Earning cap shall be adjusted for inflation on an annual basis.
 
 SECTION VI: IMPLEMENTATION.

(a) Unless otherwise stated, the provisions of this act shall take effect on the 1st of January 2021.
House of Representatives
Passed the House of Representatives 4-1-0-4

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