MO HCR24

Urges U.S. Congress to increase or eliminate the earnings cap for Social Security taxation to improve fairness and long-term solvency of the program

Notes that Social Security's current $117,000 earnings cap covers only 84% of all wages, down from the intended 90% coverage established in 1983

States that raising the cap to $180,000 would reduce Social Security's 75-year deficit by nearly 25%, while eliminating it entirely would close 86% of the funding gap

Argues that removing the cap would eliminate the regressive nature of Social Security tax by requiring all workers and high earners to pay the same 6.2% rate on all earnings

Directs the Missouri House Chief Clerk to send inscribed copies to U.S. Congressional leaders and Missouri's Congressional delegation