![]() Combine the Disability Insurance Trust Fund with the Old Age and Survivors Trust fund to help senior citizens and persons with disabilities.Ĭopyright 2022 Gray Media Group, Inc.This legislation restores student benefits to help educate children of deceased or disabled parents (these benefits were eliminated in 1983). Restore student benefits up to age 22 for children of disabled or deceased workers, if the child is a full-time student in a college or vocational school.Most retired workers will see an increase of 92 per month, bringing the. 2022 COLA INCREASES FOR MEDICAID, SOCIAL SECURITY, MEDICARE, TAX AND VETERANS BENEFITS For 2022, there will be a 5.9 COLA increase for Social Security. ![]() This bill will help low-income workers stay out of poverty by updating and increasing the Special Minimum Benefit and indexing the benefit level so that it is equal to 125 percent of the poverty line or about $17,000 for a single worker who had worked their full career. NEW Social Security beneficiaries will receive a 5.9 increase in benefits in 2022, the biggest increase since 1982. Improve the Special Minimum Benefit for Social Security recipients. One thing all Social Security recipients can look forward to is a much bigger payment in 2023.This bill would require the wealthy to pay the same 12.4 percent on their investments and business income by increasing the net investment income tax by 12.4 percent and applying it to certain business income not already covered by payroll taxes. Currently, workers have 12.4 percent taken out of each paycheck and contributed to the Trust Fund, half paid by the employer and half by the worker. Require millionaires and billionaires to pay their fair share into Social Security.This bill would more accurately measure the spending patterns of seniors by adopting the Consumer Price Index for the Elderly (CPI-E), which would change the formula to reflect what seniors spend a disproportionate amount of their income on such as health care and prescription drugs. Increase Cost-of-Living Adjustments (COLAs). ![]() ![]() Under this bill, Social Security benefits for someone turning 62 next year would be $200 per month higher.
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