Social Security 2100 Act
Latest action (21 Jul 2026): Introduced
What this bill does
S. 5042, the Social Security 2100 Act, is a package of changes to Social Security introduced by Senator Richard Blumenthal and several cosponsors. Among its provisions, it would raise benefit levels through a formula change for 2027–2036, switch the annual cost-of-living adjustment to whichever of two consumer price indexes (CPI-W or a new CPI-E measuring elderly consumers' costs) produces a larger increase, raise the minimum benefit for long-term low earners, raise the income thresholds above which Social Security benefits are taxed, improve widow/widower benefits in two-earner households, add a benefit boost after 15 years of eligibility, and make other changes such as caregiver credits, eliminating the disability waiting period, and extending child benefits for students. On the funding side, it would remove the current cap on wages subject to Social Security payroll taxes above a certain level, apply Social Security tax to net investment income, and adjust benefit formulas to reflect newly taxed high earnings, aiming to bolster the trust funds. It also includes provisions on Social Security Administration staffing, field offices, data security, and beneficiary service delivery.
The bill would primarily affect current and future Social Security beneficiaries—including retirees, widows/widowers, disabled workers, caregivers, and dependents—as well as higher earners and investors who would face expanded payroll or investment taxation, and Social Security Administration operations and customers.
The bill was introduced on July 21, 2026, and referred to the Senate Committee on Finance. It has not been voted on, and would need committee action, passage by both chambers, and the President's signature to become law.
Plain-English summary generated by Bill100 AI from the official record. Always verify against the source below.
Official summary
This bill is in the first stage of the legislative process. It was introduced into Congress on July 21, 2026. It will typically be considered by committee next before it is possibly sent on to the House or Senate as a whole.
Common questions
- What does S. 5042 do?
- S. 5042, the Social Security 2100 Act, is a package of changes to Social Security introduced by Senator Richard Blumenthal and several cosponsors. Among its provisions, it would raise benefit levels through a formula change for 2027–2036, switch the annual cost-of-living adjustment to whichever of two consumer price indexes (CPI-W or a new CPI-E measuring elderly consumers' costs) produces a larger increase, raise the minimum benefit for long-term low earners, raise the income thresholds above which Social Security benefits are taxed, improve widow/widower benefits in two-earner households, add a benefit boost after 15 years of eligibility, and make other changes such as caregiver credits, eliminating the disability waiting period, and extending child benefits for students. On the funding side, it would remove the current cap on wages subject to Social Security payroll taxes above a certain level, apply Social Security tax to net investment income, and adjust benefit formulas to reflect newly taxed high earnings, aiming to bolster the trust funds. It also includes provisions on Social Security Administration staffing, field offices, data security, and beneficiary service delivery. The bill would primarily affect current and future Social Security beneficiaries—including retirees, widows/widowers, disabled workers, caregivers, and dependents—as well as higher earners and investors who would face expanded payroll or investment taxation, and Social Security Administration operations and customers. The bill was introduced on July 21, 2026, and referred to the Senate Committee on Finance. It has not been voted on, and would need committee action, passage by both chambers, and the President's signature to become law.
- Has S. 5042 become law?
- Not yet. As of 21 Jul 2026, S. 5042 is introduced.
- Who sponsored S. 5042?
- S. 5042 was sponsored by Sen. Richard Blumenthal [D-CT] (Democrat-CT), with 4 cosponsors.
- What's the latest action on S. 5042?
- Introduced (21 Jul 2026).
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