The Secure Retirement and Working Family Act (SRWFA)

Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled,

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SECTION 1. SHORT TITLE; TABLE OF CONTENTS.

(a) Short Title.—This Act may be cited as the “Secure Retirement and Working Family Act of 2029 or SRWFA”.

(b) Table of Contents.—

• TITLE I: SOCIAL SECURITY SOLVENCY AND THE UNIVERSAL DIGNITY FLOOR
• TITLE II: WORKING FAMILY AND SMALL BUSINESS TAX RELIEF
• TITLE III: CORPORATE RESPONSIBILITY AND TAX BASE INTEGRITY

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TITLE I—SOCIAL SECURITY SOLVENCY AND THE UNIVERSAL DIGNITY FLOOR

SEC. 101. THE UNIVERSAL DIGNITY BENEFIT.

(a) Flat-Rate Benefit.—Social Security benefits shall no longer be calculated based on the “35 highest-earning years” or wage tiers.

1. The Baseline: Every eligible retiree receives the same $3,623 monthly floor.
2. Rationale: The system is no longer a “forced savings account” that pays more to those who already earned more. It is now a structural baseline for survival. Ensuring that every citizen, regardless of their career’s peak income, has the same floor for food, housing, and dignity.

(b) Cost-of-Living Adjustment.—Beginning in the second year after enactment, this benefit shall be adjusted annually by the Consumer Price Index for the Elderly (CPI-E).

SEC. 102. RETIREMENT ELIGIBILITY (THE DUAL-TRIGGER).

(a) Full Retirement Age (FRA).—An individual becomes eligible for the Universal Dignity Floor upon meeting either of the following criteria:

1. Chronological Age: Attaining the age of 65 years.
2. Career Contribution: Reaching a total of 80,000 Verified Working Hours. Via regular, over or double time and including gig economy documentable hours.

SEC. 103. ELIMINATION OF THE FICA TAXABLE MAXIMUM.

(a) Uncapping Contributions.—Section 3121 of the Internal Revenue Code is amended. The amendment removes the limitation on wages subject to the Old-Age, Survivors, and Disability Insurance (OASDI) tax. All remuneration for employment shall be subject to the tax rate established in Sec. 103.

SEC. 104. ADJUSTMENT OF FICA TAX RATE.

(a) Tax Rate.—The combined employer and employee OASDI contribution rate is hereby set at 15.5%.

SEC. 105. THE INDEPENDENT SOCIAL SECURITY ADMINISTRATION (ISSA)..

I: GOVERNANCE & INDEPENDENCE

(a) Status.—The Social Security Administration is hereby established as an Independent Constitutional Trust, structurally removed from the Executive Branch’s discretionary budget. (b) Board of Trustees Composition.—The Board shall consist of 9 members. These members are appointed by the President and confirmed by the Senate. They serve staggered 10-year terms to prevent single-administration packing. (c) Anti-Capture & Ethics Requirements.—

The “Revolving Door” Ban: Former Board members are permanently barred from lobbying the ISSA. They are also barred for 20 years from accepting compensated roles at any financial institution that manages ISSA-contracted funds.

Industry Ban: No individual can serve on the Board if they were an executive for a Top-50 financial institution. This also applies to those who worked as an executive in an insurance company or investment bank. They are also banned if they have served as a lobbyist for these organizations.

Financial Divestment: Upon confirmation, Board members must place all personal assets into a blind trust. They are strictly prohibited from holding individual stocks in any company represented in the Tier 2 Growth ETF.

SEC. 106. THE TWO-TIERED INVESTMENT STRUCTURE.

II: THE BIFURCATED SOVEREIGN TRUST

(a) Tier 1: The Legacy Security Core.—

1. Asset Class: This tier (comprising the current $2.7$T reserve) remains invested in High-Yield Special Issue Sovereign Debt.
2. Purpose: This is the “Safety Vault.” It is legally restricted to funding the $3,623 Universal Dignity Floor. It cannot be moved into market equities.

(b) Establishment of the Tier 2 Sovereign ETF.

There is hereby established the Social Security Sovereign Growth Fund (hereinafter “Tier 2”). Tier 2 is a self-contained, market-matching investment vehicle designed to manage all FICA contributions exceeding the historical taxable maximum.

(c) Structural Separation & Cost Offsetting.

1. Administrative Autonomy: The ISSA shall fund its entire annual operating budget through a management fee. Levied on the Tier 2 Growth Fund. No general tax revenue shall be used for the administration of Social Security.
2. The “Carrot” Account: Each high-earner’s contribution to Tier 2 is tracked in a Sovereign Personal Account.
   • Growth: Returns match the broad-market ETF performance.
   • Portability: These accounts are fully inheritable, providing a “Wealth Preservation” benefit that traditional Social Security lacks.

(d) Tier 2: The Social Security Sovereign Growth Fund (The “Carrot”).—

1. Inflow: All FICA revenue generated by the elimination of the taxable maximum (income above the historical cap) flows into this tier.
2. Vehicle: A market-matching Public-Private Partnership ETF.
3. The High-Earner Benefit: High earners are granted Proportional Participation Rights. Their base benefit is capped at $4,018. Their Tier 2 contributions are tracked in individual Sovereign Wealth Accounts. They may choose to treat these accounts as Roth (Tax-Free) or Traditional (Tax-Deferred) vehicles.

(e) The High-Earner Choice (Roth vs. Traditional).

Individuals contributing to Tier 2 shall, at the time of contribution, designate their funds into one of two sub-accounts:

1. Sovereign Roth Account: Contributions are taxed at the time of deposit; all future growth and withdrawals are 100% Tax-Free.
2. Sovereign Traditional Account: Contributions are deductible from current Federal Income Tax; withdrawals in retirement are taxed as ordinary income.

SECTION 107. ETHICAL GOVERNANCE & INDEPENDENCE.

(a) The ISSA Anti-Cronyism Firewall.

To prevent the Tier 2 Growth Fund from being used as a political, financial market or corporate tool, the following protections are enacted:

1. Passive Management Mandate: The Tier 2 Fund must be managed as a passive, index-matching vehicle. The Board is strictly prohibited from “picking winners” or engaging in active stock selection to prevent market manipulation.
2. Board Membership Restraints: * Members must have a minimum of 15 years in public-interest economics or actuarial science.
   • Individuals with a history of executive leadership in the private banking or insurance sectors are barred from the Board.
3. Audit Integrity: The ISSA faces a mandatory, public audit every two years. An independent joint committee of the GAO conducts the audit. A revolving panel of university economic departments participates in the audit.
4. The “Public Interest” Mandate.

• The Academic/Actuarial Requirement: At least three seats are reserved. These are for PhD-level economists or actuaries with a published record in “Universal Basic Income” or “Sustainable Entitlement Modeling.”
• Citizen Oversight: One seat is reserved for a Public Advocate. A non-economist whose sole role is to represent the transparency of the ISSA to the general public. This is done through quarterly “Town Hall” reports.

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TITLE II—WORKING FAMILY AND SMALL BUSINESS TAX RELIEF

SEC. 201.THE UNIVERSAL TAX-FREE LIVING FLOOR.

Congress finds that the vast majority of the United States, those considered middle and working class, have been unjustly burdened. This has persisted for over fifty years. It is due to increased costs of living, heightened tax burdens, and an artificially low congressionally mandated poverty level. To promote family growth and natural birthrates, Congress introduces changes to the tax code. These changes aim to stabilize the home structure for all Americans.

(a) Standard Exemption.—The Federal Income Tax (FIT) liability is set at 0% for the following thresholds:

1. Single Filers: Up to $60,000 Adjusted Gross Income (AGI).
2. Married Filing Jointly: Up to $120,000 AGI. (b) Family Stability Credit.—A deduction of $10,000 per dependent child shall be applied to the thresholds in subsection (a).

(b) Anti-Abuse and Integrity Provisions.

1. The Household Aggregation Rule: To prevent high-income families from splitting one large income into multiple $60,000 “single” filings (e.g., paying a teenager a $60,000 “consulting fee” from a family business). The law will require aggregation of income for any dependents or household members whose primary support is derived from the same source.
2. The “Kiddie Tax” 2.0: Any unearned income (dividends, interest, capital gains) for individuals under 24 will be taxed at the parents’ marginal rate (37%-40%) if it exceeds $2,500. This prevents the shifting of massive portfolios into children’s names to use their $60,000 floor.
3. The “Reasonable Compensation” Standard: For the $100,000 Small Business Exemption, owners are prohibited from artificially lowering their W-2 salary. Either to stay under the $100,000 profit floor or to live off business-paid personal expenses. The ISSA and IRS will utilize an “Industry Standard Wage” metric to flag and audit such shifts.

SEC. 201(d) PROTECTING THE COHABITATION ECONOMY: The Household “Roommate” Clause.

This bill enables non-romantic, cohabiting adults to declare a Shared Household status. This measure aims to prevent a “Singles Tax.” They can do this without legal marriage as recognized in much of the developed world.

I THE HOUSEHOLD EQUITY & EFFICIENCY SCALE

1. The Household Designation (The Check-boxes)

Filers will select one of three residency categories to determine their primary tax floor:

• Married Filing Jointly (MFJ): A unified $120,000 floor. (Includes automatic spousal survivorship rights for the Tier 2 ETF).
• Shared Household (Romantic/Domestic Partner): Each partner maintains a $60,000 floor. Together, they have a total of $120,000. However, they share a single $10,000 per-child deduction pool.
• Platonic Cohabitation (Roommates): Each adult maintains an individual $60,000 floor but is subject to the Efficiency Scale in subsection 2.

2. The Efficiency Scale (The “Roommate Cap”)

To account for the reduced cost of living in high-occupancy households, the tax-free floor for Platonic and Shared Household filings will adjust based on the number of adults (18+) in the residence:

• 1–2 Adults: Full $60,000 per person.
• 3+ Adults: The floor for each adult in the household is reduced by $5,000 for every person beyond the second.

Household Type	Number of Adults	Total Tax-Free Floor	Rationale
Single	1	$60,000	The baseline living wage.
Married (Joint)	2	$120,000	The Parity Floor. This is exactly double the single rate. It ensures zero penalty for marriage.
Platonic / Shared	2	$120,000	Total parity. Living together (romantically or not) doesn’t change your individual right to $60k.
Large Household	3+	$120k + ($55k per extra adult)	The Efficiency Scale. We apply the $5k drop for the 3rd person and beyond because the 3rd person’s cost-to-add is much lower.

SEC. 201(e) The “Consulting Fee” Integrity Check.

To prevent abuse from the wealthy, we will target the specific mechanism of high-wealth abuse: Shell Consulting.

1. Earned Income Protection: A minor’s W-2 income from a “standard” employer (e.g., a grocery store, lifeguard, or retail). This is the Safe Harbor and is automatically exempt from extra scrutiny and qualifies for the child’s own tax-free floor.
2. The Consulting Flag: Any 1099/Consulting income over $15,000 paid to a dependent by a family-owned entity triggers an Immediate Integrity Audit.
3. Depreciation Shield: Wealthy filers cannot use “Personal Assistant” or “Junior Consultant” roles for minors. These roles are not allowed to shift income into the $60,000/$30,000 Co-habitation brackets.

SEC. 202. SMALL BUSINESS EMPOWERMENT & DIVERSITY PROVISION.

(a) Profit Exemption.—Qualified small businesses shall pay 0% Federal Income Tax on the first $100,000 of annual profit.

(b) The Qualified Small Business (QSB) Definition.

To qualify for the $100,000 Profit Exemption, an entity must meet the following “Main Street” criteria:

1. The “Anti-Fragmentation” Rule: Business owners cannot split one large company into five small LLCs. This prevents claiming the $100,000 exemption five times. For tax purposes, all “commonly controlled” entities are treated as a single unit.
2. Employee Cap: The entity must employ fewer than 50 full-time equivalent (FTE) employees. (This aligns with existing SBA “small” standards to prevent large mid-sized firms from fragmenting just for the tax break).
3. Active Conduct Requirement: At least 80% of the entity’s assets must be actively used in conducting a trade or business. Passive investment vehicles, holding companies, and “Family Offices” are strictly excluded.

SEC. 203. STRUCTURAL INDEPENDENCE & DE-CONGLOMERATION.

A: The “True Independence” Test.

A business entity that was formerly part of a larger conglomerate may qualify for the $100,000 Profit Exemption and lower tax brackets only if it proves Total Divestiture:

• Ownership Cap: The former parent company (or its executives) may hold no more than 5% equity in the new entity.
• Governance Firewall: No member of the new entity’s Board of Directors may currently serve on the parent company’s board.
• Operational Autonomy: The new entity must have the legal right to source materials and sell products to competitors of the former parent company.

B: The “Spin-Off Dividend” (The Carrot for Giants).

To encourage massive C-Corps to fragment voluntarily, the SRWFA provides a one-time Corporate Transition Credit:

• If a C-Corp (40% bracket) spins off a division into a truly independent Small Business (QSB), the parent company receives a tax credit. This credit is equal to 20% of the spun-off entity’s valuation. It is spread over five years.
• This incentivises CEOs to break up their “empires.” The tax savings from the credit increase the parent company’s overall share value. The removal of the division from the 40% tax pool also contributes to this increase.

(c) The “Net Operating Profit” Standard.

The exemption applies specifically to Net Operating Profit after reasonable business expenses (rent, equipment, non-owner payroll).

1. Owner Compensation Cap: To prevent owners from taking zero salary to keep “profit” high, the ISSA will apply a “Reasonable Salary” floor. You can’t claim $100k in “profit” if you didn’t pay yourself a market-rate wage first.
2. Reinvestment Incentive: Profits exceeding the $100,000 floor are eligible for a 50% tax credit if directly reinvested into capital equipment or new domestic hires. This provides a 50% tax credit against the 40% Corporate Rate. This policy encourages growth over hoarding.

(d). THE CONGLOMERATION SURTAX (THE STICK).

To ensure large companies don’t just stay big and “eat” the 40% tax, we add a “Market Dominance” Surtax:

• The Threshold: Any C-Corp that controls more than 25% of a specific market sector (as defined by NAICS codes) is subject to an additional 5% “Anti-Trust Maintenance Fee” on top of their 40% rate.

(e) Excluded Sectors (The “French Revolution” Guardrail).

The following sectors are ineligible for the Section 202 exemption, as they are deemed “Capital Management” rather than “Community Diversity”:

• Private Equity and Hedge Funds.
• Luxury Asset Management (Private Jets/Yachts).
• Speculative Real Estate Holding companies.

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TITLE III—CORPORATE RESPONSIBILITY AND TAX BASE INTEGRITY

SEC. 301. CORPORATE INCOME TAX RATE.

(a) Rate Adjustment.—The statutory Corporate Income Tax rate for C-Corporations is hereby set at 40%.

SEC. 302. CLOSING OF REGRESSIVE EXPENDITURES.

(a) Repeals.—The following tax expenditures are repealed:

1. Bonus depreciation for private aviation assets.
2. Mortgage interest deductions for non-primary residences.
3. The “Carried Interest” loophole.

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SECTION 5. ENACTMENT.

This Act shall take effect on October 1, 2029.

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Final Projections for Presentation:

• Final Audit of the SRWFA Package:
• Safety (Tier 1): The $3,623 benefit is protected by the high-interest base fund.
• Growth (Tier 2): The wealthy get a “carrot”—a tax-advantaged, inheritable ETF that funds the agency’s overhead.
• Working Class: Their first $60K/$120K is FIT-free, and their FICA tax now buys them a poverty-proof retirement.
• Small Business: They are protected by the $100K profit exemption.
• Corporations: They pay the 40% rate, effectively ending the era of subsidized conglomeration.

FAQ: The Secure Retirement and Working Family Act (SRWFA)

Q: If the benefit is flat, why would I work harder or longer?

A: Because you aren’t working for your Social Security anymore—you’re working for yourself. Under the old system, your benefit was a tiny percentage of your income. Under the SRWFA, you get the $3,623 floor regardless of your job. This means any extra money you earn, save, or invest is pure profit for your lifestyle, not a calculation for a government check. It rewards ambition while guaranteeing safety.

Q: Is 80,000 hours really enough for retirement?

A: Absolutely. 80,000 hours is the equivalent of 40 years of full-time work (40 hours/week, 50 weeks/year). If you start at 20, you’re done at 60. If you work overtime or double shifts, you hit that goal even faster. We believe if you’ve given 40 years of your life to the American economy, you’ve earned your seat at the table.

Q: Won’t the wealthy just leave the country to avoid the $40% Corporate Tax?

A: Some might try, but the Tier 2 Sovereign ETF is the “Carrot.” It offers the wealthy a protected growth vehicle. It matches the market and is tax-advantaged. This vehicle is inheritable, something they can’t get in a Caymans shell company. We make it more profitable to stay and play by our rules than to hide in a tax haven.

Q: How does the “Efficiency Scale” affect my roommates?

A: If you’re just two people, nothing changes—you both get your full $60,000 floor. If a third person moves in, everyone’s floor drops by $5,000 to $55,000. Why? Because three people sharing a kitchen and a water heater is cheaper than three people living alone. It’s fair, it’s mathematical, and it prevents people from forming 50-person “tax communes” just to avoid paying into the system.

Q: What happens to the money I already paid into the old system?

A: Your “Legacy” contributions are what fund the Tier 1 Security Core. Every dime you’ve already paid is being used to guarantee that $3,623 floor stays solid. We aren’t throwing away the old system; we’re finally making it solvent.

View Supporting Documentation Here

View All Project 2029: Restoration of the Republic Proposals Here

View More Economic Equity & Opportunity Proposals Here

View More Long Term Security Proposals Here