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H.R. 2999: To amend title II of the Social Security Act to provide that not more than 10 percent of a monthly benefit may be withheld on account of overpayments.

This bill proposes changes to how the Social Security Administration (SSA) can recover overpayments made to individuals receiving benefits. Currently, the SSA may withhold a portion of a beneficiary's monthly payment to reclaim funds that were mistakenly paid. Specifically, the bill states that:

Changes to Withholding Amounts

The SSA is limited to withholding no more than 10 percent of a person's monthly Social Security benefit for recovering overpayments, unless the individual agrees to allow a higher rate of recovery.
This limitation would apply specifically to situations where the overpayment is not due to fraud or similar wrongdoing by the beneficiary.

Effective Date

The changes outlined in this bill would become effective immediately upon its enactment and would apply to any outstanding overpayments from the date of enactment onward.

Implications

The intent of the bill is to provide greater financial security for individuals receiving Social Security benefits by restricting how much can be deducted from their monthly payments due to overpayments, ultimately ensuring beneficiaries retain a larger portion of their income.