A few congressmen want to save Social Security and give retirees an extra $200 each month.

The Social Security Expansion Act, was proposed in June by Peter DeFazio and Bernie Sanders.

It would give retirees an extra 12 percent each month, totaling benefits $2,400 yearly.

Presently, The average Social Security payment is $1,658. 

Social Security benefits have increased by 5.9%, the most since 1982.

Future or current Social Security recipients at least 62 years old will get the new benefit.

Sanders said, "I'm delighted that the Social Security Administration estimates our plan to boost ...

...Social Security payments by $2,400 a year. 

And it would completely finance Social Security for the coming 75 years by imposing the payroll tax on all income above $250,000 a year.  

The bill increases Special Basic Payments for low-income Americans. 

Currently, beneficiaries get $900/month. The proposed law would increase the monthly payout to $1,400. 

This would increase tax payments for some employees; now, earnings beyond $147,000 aren't charged, it will now be $250,000 or more.  

Over 93% of households won't see any difference in their income tax. 

Social Security and Medicare trustees predict Americans will stop getting benefits by 2035 if Congress doesn't intervene.

By raising the payroll taxes they could secure Social Security fund until 2096.

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