Rep. Mike Honda Calls for Eliminating Social Security Payroll Tax

Rep. Mike Honda rallied residents together Wednesday in Fremont as he announced his support of eliminating the Social Security payroll tax cap. 

During a press conference in front of the Social Security Administration office in Fremont, Honda said that he will co-author a bill to “scrap the cap” and change the formula that calculates Social Security benefits. The changes could increase benefit payouts up to $800 a year for seniors and would ensure solvency through 2055, according to the Fremont Argus.

The Social Security tax cap is currently at $113,700.

While Honda is calling for the tax cap to be scrapped altogether, Ro Khanna, Honda’s challenger in next year’s race for the 17th Congressional District seat, said he supports raising it to ensure solvency.

According to the Argus, Khanna believes that raising the cap, instead of eliminating it, is “more politically feasible” and that he’s “open to expanding benefits after the solvency is ensured.”

Honda previously expressed his support for eliminating the cap last year but also said he was open to increasing the retirement age. He’d changed his position on Wednesday and said increasing the retirement age was not an immediate necessity.

Read more on the Argus.