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New bill would boost Social Security benefits $150 per month

News January 07, 2026 at 05:21 PM
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What You Need To Know

  • The bill would phase out the payroll tax cap and calculate COLAs using the Consumer Price Index for the Elderly.
  • The additional wages subject to payroll tax would be taken into account when calculating benefits.
  • Sen. Brian Schatz's bill was last introduced in 2015.

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