Sec. 2. Across-the-board benefit increase
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Section 215(a)(1)(B) of the Social Security Act ( 42 U.S.C. 415(a)(1)(B) ) is amended— by redesignating clause
(iii)as clause (iv); and by inserting after clause
(ii)the following new clause: For individuals who initially become eligible for old-age or disability insurance benefits, or who die (before becoming eligible for such benefits) in any calendar year after 2024, each of the amounts determined under clause
(ii)of this subparagraph for purposes of subparagraph (A)(i) shall be increased by— for calendar year 2025, 1 percent; for each of calendar years 2026 through 2038, the percent determined under this clause for the preceding year increased by 1 percentage point; and for calendar year 2039 and each year thereafter, 15 percent. . Clause
(iv)of section 215(a)(1)(B) of the Social Security Act ( 42 U.S.C. 415(a)(1)(B) ), as redesignated by subsection (a), is amended by inserting (after the application of clause (iii), when applicable) after clause
(ii).
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Sec. 2
Across-the-board benefit increase
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