The Social Security Expansion Act was initially introduced on June . According to the terms of the
proposed bill, individuals who are currently receiving Social Security benefits or who will reach the age of
62 in 2023 would be entitled to an additional $200 added to their monthly payments.
In essence, if this legislation garners approval, recipients of Social Security could potentially enjoy an extra $2,400 in
annual benefits. This supplementary income would likely be well-received by seniors, as the rising
inflation tends to erode the value of their yearly cost-of-living adjustments.