Summary: H.R.1631 — 115th Congress (2017-2018)All Information (Except Text)

There is one summary for H.R.1631. Bill summaries are authored by CRS.

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Introduced in House (03/20/2017)

Save Social Security Act of 2017

This bill amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) apply Social Security payroll taxes to annual income above $300,000; (2) include earnings above $300,000 in the benefit formula; and (3) increase to $100,000 the income threshold above which Social Security benefits are included in gross income.

(Under current law, Social Security payroll taxes apply to the first $127,200 of income in 2017 and benefits are included in the gross income of individuals with certain income that exceeds thresholds of $0, $25,000, or $32,000, depending on the individual's filing status.)