Bernie Sanders' proposed Social Security bill could increase payments to seniors by $2,400 a year

Social Security payments could be increased by $2,400 each year under a bill now before Congress.

Social Security payments would be increased by $200 monthly for most recipients under 

the Social Security Expansion Act, introduced June 9 by Vermont Sen. Bernie Sanders and 

Oregon Congressman Peter DeFazio. Sanders and DeFazio said the bill would not affect roughly 93% of 

taxpayers, since it would raise Social Security taxes on Americans earning over $250,000 per year.

Those who qualify for Social Security next year could receive $200 more a month in payments if the bill passes, DeFazio said.

CNBC reports that voters place a high priority on protecting Social Security.

According to Social Security Works and Data for Progress's June survey, 64% of respondents 

Are "very concerned" that benefits will run out in the future. According to the Social Security 

Administration, the program may be able to pay only 80% of its benefits by 2035 if reforms are not implemented.

Our job is not to cut Social Security at a time when half of older Americans have no retirement savings 

And millions live in poverty," Sanders said. “It is our job to expand Social Security to ensure that every

Senior citizen and person with a disability can retire with dignity and live with the security they need.

Swipe Up to Read More Stories

Swipe Up