Democrats in the US House of Representatives have a plan to strengthen Social Security. It may not become law this year, but it’s a solid step to ensure the program remains solvent.

The proposal, called “Social Security 2100: A Holy Credit,” would extend benefits, which have not been implemented in nearly 51 years, noted John Larson (D-Ct.), who proposed the bill and serves as Speaker of the House. Social Security’s Ways and Means Subcommittee, according to CNBC.com

“We’ve been long overdue in making sure we’re strengthening the program they need, especially during this pandemic,” Larson said of program recipients.

Although Social Security payments are adjusted for inflation, they have not kept pace with the true cost of living.

However, advocates of expanding Social Security argue that benefits have waned over time. Social Security benefits have lost 40% of their purchasing power since 2000,โ€ CNBC reports, according to an analysis by the Senior Citizens League. Here are some key principles of the Democratsโ€™ bill:

* Increase all checks by approximately 2% of average maturity. Minimum benefits above the poverty line will be determined and linked to current wage levels.

* The annual cost-of-living adjustment will be changed to “better keep pace with the costs retirees face”.

* Widows and widows will also get higher benefits. It would eliminate rules that reduce benefits for public sector workers, including the requirement to eliminate surprises and state pension compensation.

* Provide carer credits for people who take time outside the workforce to care for children or other family members.

* Student benefits will be extended to age 26. Children who live with grandparents or other relatives will also have increased access to benefits.

* Ending the five-month waiting period for disability pension.

How will these benefits be funded? The bill calls for the reintroduction of the Social Security payroll tax on wages over $400,000, which would affect an estimated 0.4% of wage earners.