Bernie Sanders Proposes $2,400 Social Security Boost in New Leadership Role
Summary
Bernie Sanders says he plans to make a $2,400 annual Social Security benefit increase a priority if he becomes chair of the Senate Finance Subcommittee on Social Security. His proposal would raise revenue by applying Social Security taxes to more income, including earnings above $250,000.Key Facts
- Sanders expects to become chair of the Senate Finance Subcommittee on Social Security when the new Congress convenes in January.
- The proposed benefit increase would add $200 per month for recipients.
- Sanders’s Social Security Expansion Act was introduced in 2025 with Senator Elizabeth Warren and other Democrats.
- The bill would apply Social Security payroll taxes to income above $250,000.
- The proposal would change annual cost-of-living adjustments to use the Consumer Price Index for the Elderly, which is designed to reflect older Americans’ spending patterns.
- The Social Security payroll tax rate for workers is 6.2 percent, matched by employers, and applies only up to an annual earnings limit.
- The taxable maximum is $184,500 in 2026 and is scheduled to rise to $192,300 in 2027.
- Social Security’s trust fund is projected to cover 78 percent of scheduled benefits in late 2032 if Congress does not act.
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