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Sanders Proposes a $2,400 Annual Social Security Increase: Who Would Pay for It?
The proposed Social Security Expansion Act would increase Social Security benefits by $2,400 per year while changing how the program is funded
By  Daniel Navas
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Sanders Proposes a $2,400 Annual Social Security Increase: Who Would Pay for It?
FOTO: Shutterstock

Posted on08/06/26 at 11:51

Sen. Bernie Sanders has introduced a plan to increase Social Security benefits by $2,400 annually.

The proposal would expand benefits for millions of retirees while financing the increase through higher contributions from Americans with the highest incomes.

The measure must still be debated and approved by Congress before it can become law.

  • Why it matters: More than 70 million people receive Social Security benefits in the United States. The Social Security Expansion Act offers an alternative approach to strengthening the program without raising taxes for most American workers.

Sanders Seeks to Increase Social Security Benefits

The proposal, known as the Social Security Expansion Act, would provide a universal $2,400 annual increase for current Social Security recipients as well as future beneficiaries. It also includes several reforms designed to strengthen the program over the long term.

Among the key provisions are:

  • A $2,400 annual increase for Social Security beneficiaries.
  • A higher minimum benefit for low-income workers.
  • A revised cost-of-living adjustment (COLA) formula designed to better reflect the expenses faced by older Americans.
  • Extending the program’s financial solvency for 75 years.

How Sanders Proposes to Pay for the Increase

aumento del Seguro Social de $2.400, BERNIE SANDERS, Social Security Expansion Act
Social Security Expansion Act Proposes a $2,400 Annual Social Security Increase – PHOTO: Shutterstock

The proposal also changes how Social Security is funded by requiring higher-income Americans to contribute more to the system.

The main funding measures include:

  • Applying Social Security payroll taxes to annual income above $250,000.
  • Taxing certain investment and business income earned by high-income taxpayers.
  • Keeping taxes unchanged for more than 90% of U.S. households, according to the proposal.

The Proposal Comes Amid Debate Over the Future of Social Security

Sanders introduced the legislation after the Social Security Administration warned that action is needed to help ensure the program’s long-term financial stability.

In a letter sent to fellow Democratic senators, Sanders urged lawmakers to reject proposals that would reduce benefits, raise the retirement age, or allow expedited changes through the proposed PROMISE Act.

According to Sanders, the priority should be strengthening Social Security by increasing benefits and financing them through higher contributions from the nation’s highest earners.

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Social Security Expansion Act Proposes a $2,400 Annual Social Security Increase – PHOTO: Shutterstock

The Social Security Expansion Act Must Still Clear Congress

For now, the proposed $2,400 annual increase has not been approved, and current Social Security payments remain unchanged.

Before it can take effect, the proposal must:

  • Advance through the U.S. Senate.
  • Be approved by the House of Representatives.
  • Be signed by the president to become law.

What’s Next
The future of Social Security is expected to remain one of Washington’s most closely watched economic issues in the months ahead.

The Social Security Expansion Act offers one approach to increasing benefits without reducing existing payments, but its future will depend on whether it can gain enough support in Congress.