United States Congress
Protecting and Preserving Social Security Act
July 31, 2024
Summary
This bill modifies the Social Security Act to use a new Consumer Price Index for Elderly Consumers for cost-of-living adjustments and to gradually phase out the cap on wages subject to Social Security taxes by 2030. It does not directly affect mortgage lending, servicing, or compliance. Mortgage professionals are not required to take any action in response to this legislation.
Source: https://www.congress.gov/bill/118th-congress/s-bill/4877
Common questions
- What does "Protecting and Preserving Social Security Act" cover?
- This bill modifies the Social Security Act to use a new Consumer Price Index for Elderly Consumers for cost-of-living adjustments and to gradually phase…
- Which agency issued this update?
- This update was issued by United States Congress.
- When was it published?
- It was published on July 31, 2024.