A bill to repeal two largely unpopular rules affecting some public sector workers’ ability to collect Social Security benefits was reported out of the House Ways & Means committee today. The Social Security Fairness Act was introduced by Rep. Rodney Davis (R-IL), and currently has more than 290 cosponsors from both parties.
GOP members of the House Ways and Means Committee held an all-Republican roundtable on the future of the program on June 29. That’s a little like holding an all-Red Sox roundtable on the future of the Yankees. Republicans have spent four decades devising ways to undermine Social Security – including their triad of terrible ideas: raising the retirement age, means-testing benefits, and privatizing the program
Social Security’s trust fund received a one-year reprieve in the 2022 Social Security Trustees report, released late Thursday afternoon. The Trustees project that the combined disability and retirement trust fund will become depleted in 2035 – one year later than predicted last time – if Congress doesn’t take preventative action. When the trust fund becomes insolvent, the Trustees say, Social Security will only be able to pay 80% of scheduled benefits.
Witness after witness at Tuesday’s Congressional hearing on Social Security Administration (SSA) customer service testified that the agency is in dire need of additional resources in order to properly serve the public. The hearing was held by the House Ways and Means Social Security subcommittee, chaired by Rep. John Larson (D-CT), with testimony from a variety of witnesses from SSA and advocacy groups.
Social Security must be expanded and strengthened now. That was the message National Committee president Max Richtman delivered in testimony today before the House Ways and Means Social Security subcommittee, chaired by Rep. John Larson (D-CT). This was the first and possibly only hearing on Congressman Larson’s Social Security 2100: A Sacred Trust legislation, which would boost benefits and extend the solvency of the program’s trust fund.
Some tropes never die. The one about Millennials not being able to rely on Social Security when they retire re-surfaces every few months, most recently in an article by John Csiszar on the financial news site GoBankingRates.
The National Committee to Preserve Social Security and Medicare --- on behalf of its millions of members and supporters --- applauds Congressman John Larson for introducing his Social Security 2100: A Sacred Trust Act today.
Americans who rely on Social Security can exhale for a moment now that the program’s Trustees have reported that the trust fund will remain solvent until 2034. That’s only one year earlier than projected in last year’s report. It is time to strengthen and expand the program.
Next week, Social Security will mark its 86th anniversary of providing Americans with basic financial security in old age (and, since 1956, upon becoming disabled). And yet, quite incredibly, baseline Social Security benefits haven’t been expanded in fifty years – even though seniors’ living costs have soared over the decades. Congressman John Larson (D-CT) is once again hoping to change that. Larson, a true Social Security champion who introduced legislation to boost Social Security in previous Congresses, has now released the details of a revamped bill to increase benefits and extend the program’s solvency.
Members of Congress heard from some genuine experts on Social Security - older Americans who have to survive on their benefit