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Social Security Fix Would Raise Wage Ceiling, Tax Rate, and Retirement Age

A proposed three-part compromise would raise the taxable wage ceiling to $400,000, gradually increase the employee payroll tax rate to 7.2%, and move the full retirement age to 70 for younger workers.

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A proposed three-part compromise would raise the taxable wage ceiling to $400,000, gradually increase the employee payroll tax rate to 7.2%, and move the full retirement age to 70 for younger workers.

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