Title I — Strengthening Benefits
I Strengthening Benefits
Sec. 102 More accurate cost-of-living adjustment for Social Security beneficiaries
“(H) the term “Consumer Price Index” means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).”
“(D) the term “Consumer Price Index” means the Consumer Price Index for Elderly Consumers (CPI–E, as published by the Bureau of Labor Statistics of the Department of Labor).”
“(6) Any provision of law (other than in this title, title VIII, or title XVI) which provides for adjustment of an amount based on a change in benefit amounts resulting from a determination made under this subsection shall be applied and administered without regard to the amendments made by subsections (a) and (b) of section 102 of the Social Security 2100 Act.”
Sec. 103 Increase in minimum benefit for lifetime low earners based on years in the workforce
“(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 subparagraph (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 1/12 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 forth in the following table:
“(iii) The annual dollar amount determined under this clause is—
“(I) for calendar year 2020, the poverty guideline for 2019; and
“(II) for any calendar year after 2020, the annual dollar amount for 2020 multiplied by the ratio of—
“(aa) the national average wage index (as defined in section 209(k)(1)) for the second calendar year preceding the calendar year for which the determination is made, to
“(bb) the national average wage index (as so defined) for 2018.
“(iv) For purposes of this subparagraph—
“(I) the term “year of work” means, with respect to an individual, a year to which 4 quarters of coverage have been credited based on such individual’s wages and self-employment income; and
“(II) the term “poverty guideline for 2019” means the annual poverty guideline for 2019 (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.”
Sec. 104 Increase in threshold amounts and rate for inclusion of Social Security benefits in income
“(a) In general—Gross income for the taxable year of any taxpayer described in subsection (b) (notwithstanding section 207 of the Social Security Act) includes Social Security benefits in an amount equal to the lesser of—
“(1) 85 percent of the Social Security benefits received during the taxable year, or
“(2) one-half of the excess described in subsection (b)(1).”
“(c) Base amount—For purposes of this section, the term “base amount” means—
“(1) except as otherwise provided in this paragraph, $50,000,
“(2) $100,000 in the case of a joint return, and
“(3) zero in the case of a taxpayer who—
“(A) is married as of the close of the taxable year (within the meaning of section 7703) but does not file a joint return for such year, and
“(B) does not live apart from his spouse at all times during the taxable year.”
“(C) The amounts appropriated to the hospital insurance trust fund by subparagraph (B) shall be determined, and transferred from the general fund, at such times and in such manner so as to replicate, to the extent possible, the appropriations and transfers which would have occurred with respect to such trust fund had subsections (a) and (b) of section 104 of the Social Security 2100 Act not been enacted.”