You Earned It, You Keep It Act

The You Earned It, You Keep It Act changes Social Security tax treatment by setting a $250,000 threshold for earnings subject to Social Security taxes. It modifies how income above this threshold is treated for Social Security purposes and adjusts benefit calculations to include earnings above $250,000. The bill would directly affect high-wage earners making over $250,000 annually, changing how their Social Security taxes are calculated. The bill also includes provisions to ensure Social Security trust funds are not negatively impacted by these changes. These changes would apply to wages paid in calendar years after 2025 and to taxable years beginning after December 31, 2025.