S.2614

The Protecting and Preserving Social Security Act amends the Social Security Act and the Internal Revenue Code.

The Protecting and Preserving Social Security Act amends the Social Security Act and the Internal Revenue Code to make improvements in the old-age, survivors, and disability insurance program. It introduces a Consumer Price Index for Elderly Consumers and adjusts the computation of cost-of-living increases. It also modifies the determination of wages and self-employment income above the contribution and benefit base after 2025 and includes surplus earnings in the Social Security benefit formula.