A bill to provide for a 7-percent increase in social security benefits beginning with benefits payable for the month of January 1974.

States that the increases in the monthly benefits and lump sum death payments under title II (Old-Age, Survivors', and Disability Insurance) of the Social Security Act shall be increased by 7 percent beginning January 1974 (presently increased by the percentage by which the Consumer Price Index for June 1973 exceeds that for June 1972, beginning April 1974.)