Social Security Benefits Bill 2024 Timeline. Repeal provisions that reduce social security benefits for individuals who receive other benefits, such as a pension from a state or local. Analysts had predicted a 2.5% bump for 2025,.
The proposed legislation calls for increasing the social security wage base, which means that high earners would help foot the bill for eliminating the federal tax on retirement. This bill modifies the social security system, particularly with respect to benefit calculations, fund administration, and beneficiary resources.