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Sanders/Defazio Bill to Expand Social Security Encompasses Additional Benefits, Taxes

Legislation introduced earlier this month in both the House and the Senate call for additional cash benefits for seniors, coupled with an increase in the amount of payroll tax to be absorbed by an estimated 7% of the workforce. The bills–S.4365 entered by Sen. Bernie Sandres (I-VT) and H.R.8005 entered by Rep. Peter DeFazio (D-Ore)–were introduced June 9 with 28 Democrat co-sponsors and support from a number of organizations, and are now awaiting committee attention. A post by The Motley Fool’s Keith Speights posted on channel3000.com takes a look at the major features of these companion bills. Check out his post here…

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