Protecting and Preserving Social Security Act Reintroduced

Sen. Mark Begich (D-AK) and Rep. Ted Deutch (D-FL) have reintroduced the Protecting and Preserving Social Security Act (S. 308 and H.R. 649). The legislation strengthens Social Security’s long-term financing by gradually phasing out the cap on earnings subject to payroll contributions. It also adopts a more accurate measure of the inflation experienced by seniors and people with disabilities for annual Social Security cost-of-living adjustments – helping to make sure that benefits keep up with rising costs. The bills were introduced during the 112th Congress, but did not advance. S. 308 was referred to the Senate Committee on Finance; H.R. 649 was referred to the House Committee on Energy and Commerce, Subcommittee on Health. The Arc supports this legislation.