Federal Legislation

1. RENY supports federal legislation measures to protect Social Security and Medicare for the
future.
S.770 Senator Bernard Sanders (I-VT) – Social Security Expansion Act
Provides for an increase in certain benefits related to the Social Security program
and the extension of payroll taxes on wages, salaries, and self-employment to income
above $250,000 to ensure the long-term financial security of the Social Security and
Medicare programs.
H.R. 1700 Val Hoyle (D-IL) To enhance Social Security Benefits and ensure the long-
term solvency of the Social Security Program.
2. RENY supports Medicare Reduction Price Programs that result in decreased costs for
prescription drugs and continued negotiations to expand the list of prescription drugs covered
by such programs and the speed at which lower costs are implemented.
S.1836 Senator Amy Klobuchar (D-MN) SMART Prices Act
This bill aims to lower prescription drug costs in Medicare by speeding up and
expanding price negotiations.
3. RENY supports legislation to eliminate taxes on Social Security Benefits income if such
legislation includes accommodation for replacing the lost revenue into the Social Security
Trust Fund to prevent earlier insolvency of the Trust Fund surplus.
H.R. 2909 Rep. Angie Craig (D-MN) You Earned It, You Keep It Act
This bill excludes Social Security benefits from gross income for purposes of federal
income taxes. The bill would be paid for by raising the cap on the Social Security
payroll tax, so higher-earning Americans continue paying into Social Security.
S2716 Senator Ruben Gallego (D-AZ) You Earned It, You Keep It Act
This bill eliminates the current federal income tax on Social Security benefits for
recipients, adds a new calculation for benefits after 2025, giving a 2% credit for
earnings above $250,000, potentially boosting payments for higher earners, modifies
how Social Security and Medicare taxes apply to income above $250,000, and includes
Treasury appropriations to offset any revenue lost from these changes, protecting the
Social Security Trust Funds.