Social Security benefits would rise for low earners and long-term retirees, paid for by higher taxes and taxing more high incomes.
This bill would boost Social Security payments for people with low lifetime earnings and those who have received benefits for many years. It would also let full-time college students get child benefits until age 26. To pay for these changes, most workers would see a small increase in their Social Security taxes, and higher earners would pay taxes on a portion of their income above the current cap.
Today, Social Security taxes are capped at a certain income level, and child benefits for students generally end at age 19. Low earners receive a special minimum benefit, but there are no extra benefits for long-term eligibility. After this bill, a portion of earnings above the current tax cap would be subject to Social Security taxes and benefit calculations, starting at 90% in 2026. Child benefits would extend to full-time post-secondary students up to age 26. Low earners would see a higher special minimum benefit, and beneficiaries eligible for 16 years or more would receive an increased monthly payment. Social Security tax rates would also gradually increase for all workers and employers.
HR 3517 · 119th Congress · May 20, 2025 · AI Summary by gemini-2.5-flash · 8/10
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14 filings mentioned this bill
Amounts reflect total quarterly lobbying spend reported to the Senate, not bill-specific spending. Source: Senate LDA filings.