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Raising wages would substantially increase the amounts going into the SS program. The higher the wage the higher the increase.
Bill
What Is the impact on Social Security?
According to a recent report from the Congressional Budget Office (CBO), an increase in the minimum wage would increase average Social Security benefits because initial benefits are indexed to economywide average wages, which would reflect the national increase.
Bill
What Would Boosting the Minimum Wage Mean for Seniors? - NCPSSM
The nation’s current minimum wage of $7.25 per hour has not been increased since 2007. The Raise the Wage Act of 2017 (S. 1242 and H.R. 15), introduced by Senators Patty Murray, Bernie Sanders and Representatives Bobby Scott and Keith Ellison would increase the federal minimum wage from its...
www.ncpssm.org
What Is the impact on Social Security?
According to a recent report from the Congressional Budget Office (CBO), an increase in the minimum wage would increase average Social Security benefits because initial benefits are indexed to economywide average wages, which would reflect the national increase.