Safeguarding American Families and Expanding Social Security Act of 2015

This bill, introduced in 2015, seeks to increase Social Security benefits and extend the program's financial health by changing how it is funded and how cost-of-living adjustments are calculated. It would require higher-income earners to pay Social Security payroll taxes on wages above the current taxable limit, while also increasing monthly benefit amounts for retirees. Additionally, the bill would switch the annual cost-of-living adjustment to a specialized index that specifically tracks the spending patterns of seniors, such as higher healthcare costs, typically resulting in larger annual increases. The legislation was referred to the Senate Committee on Finance but did not advance further during that session of Congress.