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The Social Security Fairness Act (SSFA), which was recently signed into law by President Joe Biden, eliminates rules that reduce Social Security benefits for those who also get income from public...
"In essence, this money has been stolen from all of us for all these years," said an 84-year-old woman whose late husband's Social Security benefits were slashed. "It's not fair."
After receiving approval from the U.S. Senate in the early morning hours of Dec. 21, the Social Security Fairness Act is set to be presented to the president and signed into law.
1972 - Social Security Amendments of 1972 (Supplemental Security Income), Pub. L. 92–603 1973 - Social Security Benefits Increase, Pub. L. 93–233 1977 - Social Security Amendments of 1977, Pub. L. 95–216
A factor working against wealthier individuals and in favor of the poor with little other retirement income is that Social Security benefits become subject to federal income tax based on income. The portion varies with income level, 50% at $32,000 rising to 85% at $44,000 for married couples in 2008.
Helvering v. Davis, 301 U.S. 619 (1937), was a decision by the U.S. Supreme Court that held that Social Security was constitutionally permissible as an exercise of the federal power to spend for the general welfare and so did not contravene the Tenth Amendment of the U.S. Constitution.
If brought to the House floor, the Social Security Fairness Act may pass, based on the 327 co-sponsors who are currently behind the proposal. The Senate version of the bill, with 62 co-sponsors ...
In a move that could significantly impact the retirement income of millions of Americans, a bipartisan group of U.S. lawmakers is pushing to repeal a set of Social Security rules that reduce ...