Ms. Sanchez Introduces Bill to Raise Social Security Benefits and Tax Income Over Current Limits
This bill is currently in the early stages of the legislative process and is being reviewed by two House committees. It is actively moving forward as it waits for these groups to study the proposal. There are no upcoming votes scheduled at this time.
While popular with many voters, bills that significantly raise taxes on high earners and expand government spending often face strong opposition in a divided Congress.
Self-employed individuals earning above the current Social Security tax cap would face significantly higher self-employment taxes. By 2032, all net self-employment income would be subject to the full 12.4% Social Security tax with no upper limit. Small business owners who pay both the employer and employee share would feel this most acutely, though they would earn some additional future benefits at a 5% credit rate on surplus earnings.
“an amount equal to the applicable percentage (as determined under subsection (d)(2)) of that part of the net earnings from self-employment which is in excess of the difference (not to be less than 0) between (i) an amount equal to the contribution and benefit base”
Referred to the Committee on Ways and Means, and in addition to the Committee on Education and Workforce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sent to a congressional committee for expert review. The committee decides whether this bill moves forward.
Introduced in House
The bill was officially filed and given a number. It now enters the legislative queue.
No votes have been recorded for this legislation yet.
The Strengthening Social Security Act, introduced by Rep. Linda Sánchez, would phase out the $184,500 taxable wage cap by 2032. The bill also proposes switching the COLA formula to the CPI-E to better reflect senior expenses and increasing benefits for widows and widowers.
Ways and Means Committee member Linda T. Sánchez introduced the Strengthening Social Security Act to increase benefits and ensure COLAs reflect real senior expenses. The bill responds to a Trustees' Report warning of trust fund depletion by 2032.
The Strengthening Social Security Act would increase monthly benefits and replace the current CPI-W with the CPI-E for calculating COLAs. It also phases out the taxable cap of $184,500 to ensure high earners contribute more to the program's long-term solvency.
Document Type
Congressional Bill
Official Title
Strengthening Social Security Act of 2026
Analysis generated by AI. Always verify with official sources.