February 6, 2014
Building upon the growing public support for expanding Social Security, the National Committee to Preserve Social Security and Medicare (NCPSSM) has launched the Boost Social Security Now education campaign to inform and mobilize our membership, grassroots networks and on-line communities to convince Congress that now is the time to boost benefits, not cut them. For more than 30 years NCPSSM has been recognized as one of the nation’s most ardent and effective defenders of America’s social insurance safety net. In 2012, the National Committee expanded its focus on Social Security with the release of a proposal to modernize benefits, which included caregiver credits, shifting the annual cost of living adjustment formula to one designed for elderly consumers and improving the basic benefit of all current and future beneficiaries. Since that time, the call for expanded benefits has grown louder and includes support from within Congress including Senators Elizabeth Warren, Tom Harkin and Bernie Sanders, and Representatives Linda Sanchez and Gwen Moore.
“For years, Washington’s fiscal debate has been co-opted by the billion dollar austerity lobby and its single-minded quest to cut middle-class benefits in Social Security and Medicare to reduce the deficit. Their anti-Social Security mission ignores the cold hard economic realities facing millions of retirees, the disabled, widows and children. That’s why the National Committee, on behalf of its millions of members and supporters nationwide, is saying enough is enough. Now is the time to boost Social Security benefits, not cut them. It’s the right thing to do for our economy and America’s middle-class families and this is the right time to do it”…Max Richtman, NCPSSM President/CEO
The National Committee has endorsed nine different pieces of legislation that would enhance Social Security, including S. 567 and HR 3118 which, when fully phased in, would boost benefits by approximately $70 per month and adopt the more accurate consumer price index for the elderly (CPI-E). As a fiscally responsible way to increase and strengthen Social Security finances we also support lifting the payroll tax cap.
Today, Social Security’s average monthly benefit of just $1,269 is 90% or more of retirees’ income for 46% of unmarried elderly and 23% of married couples. 58 million Americans of all ages depend on the anti-poverty protection offered by Social Security. Social Security will be even more important to future generations, especially the Recession Generation which faces income loss, diminished net worth, and high unemployment during their vital income earning years, all of which ultimately impacts their retirement.
Social Security’s positive economic impact shouldn’t be ignored. American families spend $775 billion in Social Security benefits nationwide each year, providing vital economic stimulus to local businesses and state economies they wouldn’t have without Social Security.
The goal of our Boost Social Security Now campaign is straightforward: Congress should increase Social Security benefits now to protect the economic security of millions of American families.
The National Committee, a nonprofit, nonpartisan organization acts in the interests of its membership through advocacy, education, services, grassroots efforts and the leadership of the Board of Directors and professional staff. The work of the National Committee is directed toward developing better-informed citizens and voters.
Media Inquiries to:
Pamela Causey 202-216-8378/202-236-2123
Kim Wright 202-216-8414