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Fiscal Commissions Are not the Answer for Strengthening Social Security
Soon-to-be retired Senator Dick Durbin’s (D-IL) new PROMISE Act is the latest in a wave of proposals to establish a ‘fiscal commission’ to address Social Security’s looming financial shortfall, instead of allowing Congress to do its job and devise its own proposals. Durbin’s bill would authorize the four-person Social Security Advisory Board to draft a 50‑year solvency bill that would be fast‑tracked through Congress by the end of the current legislative session. While it differs from earlier commission proposals, Durbin’s legislation still relies on an outside body to formulate changes to a program that 70 million Americans rely on for basic financial security. On the latest episode of our Capital Quick Takes video series, communications director Walter Gottlieb interviews our President and CEO Max Richtman about Durbin’s bill and other efforts to create fiscal commissions for Social Security.
Trump & GOP’s Role in Rising Health Insurance Costs
New reporting shows Affordable Care Act (ACA) premiums are set to spike by an average of 14% in 2027, on top of last year’s double‑digit hike. It’s exactly what you’d expect from a Trump administration that has made life more expensive and health care less secure for the most vulnerable Americans. For millions of Americans who buy coverage on the ACA marketplaces, the story of the past two years is simple: the bill got bigger, the help got smaller, and people are walking away from coverage.
Latest Atlantic Piece Ignores the Real Oligarchy
In his latest column for The Atlantic titled “An Oligarchy of Old People,” author
Trump Goes “Down Under” for Latest Privatization Ploy
After turning the page on his self-indulgent USA250 bonanza, marred by extreme heat and disappointing attendance, President Trump has once again set his sights on Americans’ earned retirement benefits. On Monday, he announced that his administration is “working on a plan” to create accounts for adults loosely inspired by Australia’s retirement savings system – and similar to the Trump accounts for children. Our president and CEO Max Richtman told MarketWatch today that Trump should be working on strengthening Social Security instead of “toying around” with federally-seeded private accounts. “We would advise President Trump to focus on Social Security - a program that has worked splendidly for more than 90 years to provide Americans with basic retirement security” - Max Richtman, President and CEO, NCPSSM
Social Security Is Heating up This Summer
Social Security is back in the headlines this summer, driven by both hopeful developments and urgent warnings. In the wake of the Trustees report in June, Senators Elizabeth Warren (D-MA) and Bernie Moreno (R-OH), announced a bipartisan proposal to adjust the Social Security payroll wage cap and stabilize the program’s revenue ahead of looming insolvency in the early 2030s. Moreno’s participation in a plan to increase Social Security revenue is particularly notable – and is the first of its kind from a Republican on Capitol Hill in recent memory. This is an encouraging signal that protecting Social Security benefits can bring people together across party lines. (Bipartisan majorities of Americans favor increasing revenue flowing into the system instead of reducing benefits, even if it means paying more in Social Security payroll taxes.) It also underscores something advocates have been saying for years: the best way to preserve Social Security is not by cutting it, but by demanding that the wealthiest Americans contribute their fair share.
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