The National Committee issued the following statement today in response to the latest reporting from Capitol Hill about GOP plans for the next Coronavirus relief bill.
“Republicans have jettisoned the President’s reckless payroll tax cut from their Coronavirus relief plan – at least for now. But seniors and their advocates must stay vigilant as the Trump administration remains laser-focused on payroll tax cuts, which pose a direct threat to Social Security. While Republicans did the right thing by setting aside Trump’s payroll tax cuts, they reportedly are considering injecting an equally menacing element into their relief bill.
The TRUST Act would set up special committees to decide the fate of federal trust funds, including Social Security and Medicare. This would allow benefit cuts to be fast-tracked through Congress. Seniors and people with disabilities need their benefits boosted, not slashed. Like payroll tax cuts, the TRUST Act is bad medicine for everyday Americans struggling to stay financially afloat, especially during the COVID crisis.
There is, however, some financial relief for seniors from other provisions of the GOP plan: another direct payment similar to the first relief bill, a freeze on Medicare Part B premium prices for 2021, and an extension of expanded telehealth coverage through next year. Measures like these will help protect seniors from rising costs during the financial crisis and ensure safe access to much-needed care as COVID continues to ravage our communities.” – Max Richtman, president and CEO of the National Committee to Preserve Social Security and Medicare
For more information on payroll tax cuts and Social Security, click here.