Strengthening Social Security Act of 2023

Hozzl · 2025-01-04T11:12:26Z

Explore the details of House Bill 3261 Strengthening Social Security Act of 2023 currently in Congress. Get insights into its purpose, current status, sponsors, and potential impact on Social Welfare. Stay informed on legislative developments.

1/4/2025, 11:12 AM

Summary of Bill HR 3261

Bill 118 hr 3261, also known as the Strengthening Social Security Act of 2023, is a piece of legislation currently being considered by the US Congress. The main goal of this bill is to enhance the financial stability of the Social Security program, which provides retirement, disability, and survivor benefits to millions of Americans.

One key provision of the bill is an increase in the payroll tax rate for Social Security. This increase would be phased in gradually over several years, with the goal of ensuring that the program remains solvent for future generations. Additionally, the bill includes measures to improve the accuracy of Social Security benefit calculations and to strengthen the program's integrity by cracking down on fraud and abuse.

Another important aspect of the Strengthening Social Security Act of 2023 is the establishment of a new commission to study and make recommendations on ways to further strengthen the program. This commission would be tasked with examining the long-term financial health of Social Security and proposing reforms to ensure its sustainability for years to come. Overall, the Strengthening Social Security Act of 2023 aims to address the challenges facing the Social Security program and ensure that it continues to provide vital support to retirees, disabled individuals, and survivors. By implementing measures to enhance the program's financial stability and integrity, this bill seeks to secure the future of Social Security for generations to come.

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Current Status of Bill HR 3261

Bill HR 3261 is currently in the status of Bill Introduced since May 11, 2023. Bill HR 3261 was introduced during Congress 118 and was introduced to the House on May 11, 2023. Bill HR 3261's most recent activity was Referred to the Subcommittee on Work and Welfare. as of December 17, 2024

Bipartisan Support of Bill HR 3261

Total Number of Sponsors

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Unaffiliated Sponsors

Total Number of Cosponsors

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Policy Area and Potential Impact of Bill HR 3261

Primary Policy Focus

Social Welfare

Alternate Title(s) of Bill HR 3261

Strengthening Social Security Act of 2023Strengthening Social Security Act of 2023To improve the retirement security of United States families by strengthening Social Security.

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