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A bill to improve the retirement security of American families by increasing Social Security benefits for current and future beneficiaries while making Social Security stronger for future generations.

9/12/2024, 10:56 AM

Summary of Bill S 5017

Bill 118 s 5017, also known as the "Retirement Security Enhancement Act," aims to enhance the retirement security of American families by boosting Social Security benefits for both current and future beneficiaries. The bill also seeks to strengthen the Social Security program for future generations.

The key provisions of the bill include increasing Social Security benefits for current beneficiaries, as well as adjusting the benefit formula to provide higher benefits for future retirees. Additionally, the bill proposes measures to ensure the long-term solvency of the Social Security program, such as increasing the payroll tax cap and implementing other revenue-raising measures.

Overall, the goal of Bill 118 s 5017 is to address the growing retirement insecurity facing many Americans and to ensure that the Social Security program remains sustainable for future generations. The bill has garnered bipartisan support in Congress and is currently under consideration in committee.

Current Status of Bill S 5017

Bill S 5017 is currently in the status of Bill Introduced since September 11, 2024. Bill S 5017 was introduced during Congress 118 and was introduced to the Senate on September 11, 2024.  Bill S 5017's most recent activity was Read twice and referred to the Committee on Finance. as of September 11, 2024

Bipartisan Support of Bill S 5017

Total Number of Sponsors
1
Democrat Sponsors
1
Republican Sponsors
0
Unaffiliated Sponsors
0
Total Number of Cosponsors
0
Democrat Cosponsors
0
Republican Cosponsors
0
Unaffiliated Cosponsors
0

Policy Area and Potential Impact of Bill S 5017

Primary Policy Focus

Alternate Title(s) of Bill S 5017

A bill to improve the retirement security of American families by increasing Social Security benefits for current and future beneficiaries while making Social Security stronger for future generations.
A bill to improve the retirement security of American families by increasing Social Security benefits for current and future beneficiaries while making Social Security stronger for future generations.

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