Marc Fischer Memorial Act

House Bill

H.R. 1046

119th Congress

Marc Fischer Memorial Act

In Committee

Introduced:Jun 3, 2025

Primary Sponsor

Don Bacon

Representative

Republican

NE-2

Cosponsors

37

Quick Stats

Policy Area

Social Welfare

Summary

The Marc Fischer Memorial Act would expand the Social Security program by increasing benefits for certain recipients and raising taxes on higher incomes to help pay for it. The bill aims to provide more financial security for retirees, people with disabilities, and their families.

Latest Action

Referred to the Subcommittee on Social Security.

SponsorDon Bacon (R-NE)

Introduced6/3/2025

StatusReferred to the House Committee on the Judiciary.

ChamberHouse

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Vote Prediction

Marc Fischer Memorial Act

The Marc Fischer Memorial Act would expand the Social Security program by increasing benefits for certain recipients and raising taxes on higher incomes to help pay for it. The bill aims to provide more financial security for retirees, people with disabilities

Community Breakdown

Pass

0%

Fail

0%

0 predictions

The Marc Fischer Memorial Act would expand the Social Security program by increasing benefits for certain recipients and raising taxes on higher incomes to help pay for it. The bill aims to provide more financial security for retirees, people with disabilities, and their families.

Bill Number: 1046
Sponsor: Don Bacon (R-NE)
Introduced: 6/3/2025
Status: Referred to the House Committee on the Judiciary.
Policy Area: Social Welfare

Data from Congress.gov

AI-generated summary

Fact Sheet

Title: Marc Fischer Memorial Act
Bill Number: 1046
Sponsor: Don Bacon (R-NE)
Status: Referred to the House Committee on the Judiciary.
Introduced: 6/3/2025
Summary: The Marc Fischer Memorial Act would expand the Social Security program by increasing benefits for certain recipients and raising taxes on higher incomes to help pay for it. The bill aims to provide more financial security for retirees, people with disabilities, and their families.

Data from Congress.gov

AI Summary

Plain-English explanation of this bill

The Marc Fischer Memorial Act would expand the Social Security program by increasing benefits for certain recipients and raising taxes on higher incomes to help pay for it. The bill aims to provide more financial security for retirees, people with disabilities, and their families.

Last updated: 12/30/2025

Official Summary

Congressional Research Service summary

Social Security Expansion Act This bill increases benefits and certain taxes related to the Social Security program. Changes to benefits include (1) increasing the primary insurance amount for certain beneficiaries; (2) revising the method of calculating cost-of-living adjustments; (3) establishing a new minimum benefit for certain low earners; and (4) allowing certain children of retired, deceased, or disabled workers to receive benefits until age 22 if they are a full-time student. Changes to taxes include (1) increasing the net investment income tax and making active trade or business income subject to this tax; and (2) extending payroll taxes on wages, salaries, and self-employment earnings to income above $250,000 (the maximum amount subject to the Social Security payroll tax is currently $160,200 for 2023). The bill also combines the existing Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund into a single Social Security Trust Fund.

Key Points

Main provisions of the bill

Increases the standard Social Security payment amount for some beneficiaries.
Revises how cost-of-living adjustments are calculated to potentially provide larger annual increases.
Creates a new minimum benefit for low-wage workers to ensure a basic level of retirement income.
Allows certain children of retired, disabled, or deceased workers to receive benefits until age 22 if they are full-time students.
Expands the Social Security payroll tax to incomes above $250,000 to generate more revenue for the program.

How This Impacts Americans

Potential effects on citizens and communities

If enacted, this bill would provide more generous Social Security benefits to retirees, people with disabilities, and their families. It would particularly help low-income workers by establishing a minimum benefit. The tax increases would mainly affect higher-income individuals and households, asking them to contribute more to support the Social Security system.

Policy Areas

Primary Policy Area

Social Welfare

Related Subjects

Accounting and auditing

Congressional oversight

Disability assistance

Elementary and secondary education

Employment taxes

Financial services and investments

Government trust funds

Higher education

Income tax rates

Inflation and prices

+4 more

Scope & Jurisdiction

Jurisdiction Level

federal

Congressional Session

119th Congress

Citation Reference

1046, 119th Congress (2025). "Marc Fischer Memorial Act". Source: Voter's Right Platform. https://votersright.org/bills/118-hr-1046

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