Written By: Anushka
Harris proposes taxing earned income above $400,000 to address Social Security’s funding shortfall, leaving wages between $168,600 and $400,000 untaxed.
Harris supports changing the COLA calculation from CPI-W to CPI-E, better reflecting senior healthcare costs.
Proposals include increasing the Primary Insurance Amount (PIA) for individuals aged 78-82 to assist with rising healthcare costs.
The special minimum Social Security benefit for lifetime low-wage workers would increase to 125% of the federal poverty level, helping reduce reliance on other federal programs.
Plans include a 9% funding increase for the Social Security Administration to improve customer service and services for individuals with disabilities.
These changes highlight Harris' commitment to Social Security’s financial stability and beneficiary support.