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The summary below was written by the Congressional Research Service, which is a nonpartisan division of the Library of Congress, and was published on Mar 20, 2017.
Save Social Security Act of 2017
This bill amends the Internal Revenue Code and title II (Old Age, Survivors and Disability Insurance) of the Social Security Act to: (1) apply Social Security payroll taxes to annual income above $300,000; (2) include earnings above $300,000 in the benefit formula; and (3) increase to $100,000 the income threshold above which Social Security benefits are included in gross income.
(Under current law, Social Security payroll taxes apply to the first $127,200 of income in 2017 and benefits are included in the gross income of individuals with certain income that exceeds thresholds of $0, $25,000, or $32,000, depending on the individual's filing status.)