Social Security Expansion Act

The Social Security Expansion Act increases Social Security benefits for retirees and disabled workers by raising the first bend point percentage from 90% to 95% and adding an 18% increase for individuals eligible after 2025. It extends benefit eligibility for children who are full-time students until age 22 (from age 19 for most children) and establishes a new minimum benefit based on years worked, with higher percentages for longer work histories (ranging from 11.25% for 11 years to 125% for 30+ years). The bill also changes the cost-of-living adjustment to use the Consumer Price Index for Elderly Consumers and adds new taxes on income above $250,000 and investment gains, increasing the tax rate on investment gains from 3.8% to 16.2%. These changes will primarily affect retirees, disabled workers, children of beneficiaries, and high-income earners.