WASHINGTON (AP) — Millions of Social Security recipients will get a 3.2% increase in their benefits in 2024, far less than this year's historic boost and reflecting moderating consumer prices.
About 71 million people — including retirees, disabled people and children — receive Social Security benefits.
The maximum amount of earnings subject to Social Security payroll taxes will be $168,600 for 2024, up from $160,200 for 2023.
There have been legislative proposals to shore up Social Security, but they have not made it past committee hearings.
A March poll by The Associated Press-NORC Center for Public Affairs Research found that most U.S. adults are opposed to proposals that would cut into Medicare or Social Security benefits, and 79% of people polled said they oppose reducing the size of Social Security benefits.
Persons:
”, Kilolo Kijakazi, —, Jo Ann Jenkins, “, Nancy Altman, Kevin McCarthy, Alfred Mason, Mason
Organizations:
WASHINGTON, Social, Social Security Administration, AARP, Social Security, Security, The Associated Press, NORC, for Public Affairs Research, Bureau of Labor Statistics ’, CPI
Locations:
Louisiana