Safeguarding American Families and Expanding Social Security Act of 2026

Sponsor: Lateefah Simon (Democratic-CA)June 23, 2026

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Introduced

In Committee

Passed One Chamber

Passed Both Chambers

Signed into Law

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.

Raises Social Security benefits for all and taxes higher earners on more of their income.

Many of these changes, including new taxes on higher earners and recomputed benefits for current retirees, would take effect starting in 2026. However, the main benefit formula adjustments for future retirees would begin after 2030. This bill would increase Social Security benefits for current and future retirees by changing how benefits are calculated and how cost-of-living increases are determined. It would also require individuals with high wages or self-employment income to pay Social Security taxes on a portion of their earnings that is currently untaxed.

What Would Change

Currently, Social Security taxes are not applied to wages or self-employment income above a certain limit. Also, cost-of-living adjustments (COLAs) use a general Consumer Price Index. This bill would change that by taxing a decreasing portion of income above the limit, starting at 80% in 2026 and reaching 0% by 2030. It would also require COLAs to be based on a new "Consumer Price Index for Elderly Consumers" starting in late 2026. The bill would adjust the benefit calculation formula for current retirees to potentially increase their payments starting in January 2026, and for future retirees, the main benefit formula adjustments would begin after 2030.

Key Provisions

Taxes a decreasing portion of wages and self-employment income above the Social Security contribution and benefit base, starting at 80% in 2026 and phasing out by 2030.
Increases the percentage factor for the lowest portion of earnings used in the Social Security benefit formula from 90% to 95% for future beneficiaries after 2030.
Adds 5% of an individual's "surplus average indexed monthly earnings" to the Social Security benefit formula for future beneficiaries after 2030.
Recomputes the Social Security benefits for current beneficiaries (eligible before 2026) starting in January 2026, using a specific adjustment ratio.
Requires all Social Security cost-of-living adjustments (COLAs) to be computed using a new "Consumer Price Index for Elderly Consumers" (CPI-E) starting with quarters ending on or after September 30, 2026.

View on Congress.gov

HR 9415 · 119th Congress · June 23, 2026 · AI Summary by gemini-2.5-flash · 9/10

Safeguarding American Families and Expanding Social Security Act of 2026

What Would Change

Key Provisions

Lobbying Activity