New Parents Act of 2023

S 35, the New Parents Act of 2023, would create a Social Security-funded parental leave benefit for eligible workers. It provides up to 3 months of paid leave (calculated based on future retirement benefits) for parents of biological or adopted children under 18, requiring applicants to meet Social Security coverage thresholds (8 quarters total, 4 in the past year) and attest to using the leave for childcare. The benefit must be repaid through reduced retirement benefits (up to 60 months) or an increased retirement age, with repayment details projected online. The bill includes fraud prevention measures, clarifies no preemption of state laws, and includes a sunset clause if the Social Security trust fund ratio falls below 20%.