US SB770

Increases Social Security benefits by raising the first bend point percentage from 90% to 95% and increasing the bend point amount by 18% for individuals eligible after 2025, effective January 1, 2026

Switches cost-of-living adjustments to use the Consumer Price Index for Elderly Consumers (CPI-E) instead of the standard CPI, better reflecting spending patterns of seniors

Creates a new minimum benefit for lifetime low earners with more than 10 years of work, scaling from 6.25% to 125% of the poverty guideline based on years worked (11-30+ years)

Extends child benefit eligibility from age 19 to age 22 for full-time students at educational institutions whose parents receive disability benefits or who die fully/currently insured

Funds expansion by applying payroll taxes on earnings above $250,000 (creating a gap between the current cap and $250,000), imposing a 16.2% tax on net investment income (up from 3.8%), and consolidating the OASI and DI trust funds into a single Social Security Trust Fund