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Legislation that “expands” social security must increase benefits
Foster 19 [Sarah, principle U.S. economy reporter @ Bankrate, “What the new House bill to expand Social Security could mean for you” 5 February 2019, https://www.bankrate.com/retirement/new-social-security-bill/, Bankrate. Accessed 13 July 2023]
The new Social Security plan has two mandates: “expanding” benefits while “strengthening” funds, according to Rep. Larson’s site about the proposal.
Expansions include the roughly 2 percent benefit increase, as well as a measure to prevent retirees from paying taxes on them. The new minimum benefit will also be set at 25 percent above the poverty line to provide more retirement income for some of the country’s lowest earners.
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