Social Security Check 2023: Extra $2,400 Proposal Reintroduced in Congress

The proposal of an extra $2,400 was initially introduced in June 2022 but has remained inactive. Fortunately, last February, Senator Sanders has reintroduced the proposal to add the benefits to the Social Security Check 2023.

On June 9, 2022, the proposal of an extra $2,400 was first introduced by Senator Bernie Sanders and U.S. Representative Peter DeFazio. The proposal was called the Social Security Expansion Act which intends to provide an extra $200 a month to eligible Social Security recipients. To be eligible for the extra benefits in the Social Security Check 2023, a Social Security recipient must turn 62 in 2023. This means that if the bill gets approved, the recipients can expect to receive an extra $2,400 each year.

According to Fragassi, on February 13, the Social Security Expansion Act was reintroduced by Sanders to the Congress after the initial proposal remained inactive. Sanders, along with Senator Elizabeth Warren and Representatives Val Hoyle and Jan Schakowsky, formed a new coalition. These lawmakers reestablished the interest in the proposal despite plans on cutting the funds for the Social Security.

READ ALSO: 2023 Social Security Tax Limit Increase Replenishes Trust Fund, Experts Say

Latest Draft of the Proposal for Social Security Check 2023

According to Fuller, the latest draft of the proposal for the Social Security also ensures that the program will carry on through 2096. To be able to do this, the bill plans to tax the earners with the highest incomes in the U.S. This means that more than 93% of American households that earn an income of less than $250,000 will not see an increase in their taxes by even a penny.

READ ALSO: Social Security Check 2023: $914 Double Payments In March— See Who Receives Them!