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Rep. John Larson, D-Conn., chairman of the House Ways and Means Social Security Subcommittee, plans to introduce this fall — likely later this month — a revised bill, called Social Security 2100: A Sacred Trust, to increase benefits and extend the program's solvency.
The bill would impose the payroll tax on wages over $400,000 a year. Full details are not yet available, but the bill also "increases benefits across the board" and is expected to change the way cost-of-living adjustments (COLAs) are calculated, according to the National Committee to Preserve Social Security & Medicare.
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Melanie Waddell
Melanie is senior editor and Washington bureau chief of ThinkAdvisor. Her ThinkAdvisor coverage zeros in on how politics, policy, legislation and regulations affect the investment advisory space. Melanie’s coverage has been cited in various lawmakers’ reports, letters and bills, and in the Labor Department’s fiduciary rule in 2024. In 2019, Melanie received an Honorable Mention, Range of Work by a Single Author award from @Folio. Melanie joined Investment Advisor magazine as New York bureau chief in 2000. She has been a columnist since 2002. She started her career in Washington in 1994, covering financial issues at American Banker. Since 1997, Melanie has been covering investment-related issues, holding senior editorial positions at American Banker publications in both Washington and New York. Briefly, she was content chief for Internet Capital Group’s EFinancialWorld in New York and wrote freelance articles for Institutional Investor. Melanie holds a bachelor’s degree in English from Towson University. She interned at The Baltimore Sun and its suburban edition.
