Published in RINewsToday on May 13, 2024
By Herb Weiss
The recently released 2024 Social Security and Medicare Trustees report shows an improved outlook for these programs. This year’s projections show that Social Security can pay its benefits and cover administrative costs now until 2035, one year longer than projected in last year’s report. But, after that, it can only cover 83 percent of benefits, even if Congress fails to take no action to fix the program to ensure its financial viability.
Medicare’s fiscal health improves even more, says the Medicare Trustees Report. It projects that the program’s Part A (Hospital) fund will be able to pay 100% of scheduled benefits until 2036 — a full five years later than estimated by the trustees last year.
Under the Social Security Act of 1935, the Board of Trustees is required to submit the annual reports on the current and projected financial status of the trust funds to Congress on April 1 each year.
It’s Time for Congress to Protect Social Security
“This year’s report is a measure of good news,” says Martin O’Malley, Commissioner of Social Security, in a statement recognizing the impact of “strong economic that have yielded impressive wage growth, historic job creation and a steady, low unemployment rate.”
“So long as Americans across our country continue to work, Social Security can — and will — continue to pay benefits,” says O’Malley, calling on Congress to take action to ensure the financial viability of the Trust Fund “into the foreseeable future just as it did I the past on a bipartisan basis.”
“I will continue to urge Congress to protect and support Social Security and restore the growth of the funds. Whether Congress chooses to eliminate the shortfall by increasing revenue, reducing benefits, or some combination, is a matter of political preference, not affordability,” observes O’Malley, noting that there are several legislative proposals that address the shortfall without benefit cuts — it should debate and vote on these and any other proposals.
Social Security Advocacy Groups. Key GOP Lawmaker Issue Statements
With the May 6 release of the 2024 Social Security and Medicare Trustees report, statements were generated by Social Security advocacy groups and Congressional lawmakers to give their take on the projections.
Even with the report pushing back the expected depletion dates for Social Security and Medicare, Max Richtman, President & CEO, National Committee to Preserve Social Security & Medicare (NCPSSM) called for Congress to immediately act to strengthen the Social Security program for the 67 million beneficiaries. “We cannot afford to wait to take action until the trust fund is mere months from insolvency, as Congress did in 1983. The sooner Congress acts, the less painful the remedies will be, says Richtman.
In responding to comments that Social Security is going ‘bankrupt, Richtman says: “Revenue always will flow into Social Security from workers’ payroll contributions, so the program will never be ‘broke.’ But no one wants seniors to suffer an automatic 17% benefit cut in 2035, so Congress must act deliberately, but not recklessly. A bad deal driven by cuts to earned benefits could be worse than no deal at all.”
Richtman warns that seniors will take a devastating financial hit if Congress is forced to make cuts in 2035. “Average Social Security benefits are already very modest — about $23,000 per year, which is only $3,000 higher than the federal poverty line for a household of two,” he says, noting that wealthier beneficiaries can afford to contribute more to the program without hurting them financially.
“Social Security has an accumulated surplus of $2.79 trillion. It is 90 percent funded for the next quarter century, 83 percent for the next half century, and 81 percent for the next three quarters of a century. At the end of the century, in 2100,” says Nancy Altman, President of Social Security Works, noting that the program is projected to cost just 6.1 percent of gross domestic product (“GDP”).
Like the SSA Commissioner and NCPSSM’s Richtman, and Altman urges Congress to act sooner rather than later to ensure that Social Security can pay full benefits for generations to come, along with expanding Social Security’s modest benefits. “That will restore one of the most important benefits Social Security is intended to provide to the American people — a sense of security,” she says.
As to Medicare, the released report notes the life expectancy for Medicare part A Trust Fund is extended another five years.
“It’s great news that the Part A trust fund has an additional FIVE years before it becomes depleted, partly because of the unexpected strength of the U.S. economy. But current and future seniors expect action to keep the trust fund solvent for the long-term,” said Richtman.
“We support President Biden’s plan to strengthen Medicare’s finances, as laid out in his FY 2024 and 2025 budgets,” says Richtman, noting that the president’s plan would bring more revenue into the program, rather than cutting benefits as some Republicans have proposed. “Building on the prescription drug pricing reforms in the Inflation Reduction Act, the President’s budget proposal would lower Medicare’s costs — and some of those savings would be used to extend the solvency of the Part A trust fund,” he says.
According to Richtman, beyond trust fund solvency, the Trustees reported that the standard Medicare Part B premium will rise next year to $185 per month – a $20 or 6 percent monthly increase. “Any premium increase is a burden to seniors living on fixed incomes, who too often must choose between paying monthly bills or filling prescriptions and getting proper health care. Seniors need relief from rising premiums and skyrocketing out-of-pocket health care costs. Fortunately, the Biden administration is taking steps to reduce those costs,” said Richtman.
Key GOP Chair Responds to Trustee Reports
Chairman Jodey Arrington (R-TX), of the House Budget Committee, quickly released a statement, responding to the release of the 2024 Social Security and Medicare Trustees report.
According to Arrington, the House Budget Committee’s Fiscal Year (FY) 2025 Budget, while not making any changes to Social Security or Medicare benefits, provides a way to prod Congress and the President to address the fiscal insolvency of these programs. The Budget Committee has also reported the Fiscal Commission Act, which will also give Congress the tools it needs to save and strengthen these vital programs,” he noted.
“We have the highest levels of indebtedness in our nation’s history, an inflationary and anemic economy, and the two most important senior safety net programs facing insolvency, says Arrington, noting that this year’s trustees report “only reiterates why we need a bipartisan Fiscal Commission to address the Social Security and Medicare Trust Funds and the $140 trillion unfunded liability on America’s balance sheet.”
“Republicans and Democrats have both proven they will not fix Social Security and Medicare on their own. We must put our seniors and country first and work together to find a solution,” he charges. “Doing nothing is condemning our seniors to automatic benefit cuts and our country to a future debt crisis,” he says.
Fixing Social Security…A Difference in Perspective.
Both NCPSSM and Social Security Works strongly endorse financially shoring up Social Security by bringing in more money into the trust fund by increasing the payroll wage-cap to require higher-income beneficiaries to pay a higher Social Security payroll tax. Both Social Security advocacy groups endorse Rep. John Larson’s (D-CT) Social Security 2100 Act, a legislative proposal would maintain the current payroll wage cap (currently set at $168,600), but subjecting wages $400,000 and above to payroll taxes, as well — and dedicating some of high-earners’ investment income to Social Security.
On the other hand, Republican lawmakers call for cutting earned benefits of younger workers by raising the full-retirement age, means-testing, and replacing the exiting COLA (CPI-W with the Chained CPI-U) that would result in a lower COLA over time. Also, no COLA’s would be provided to high income earners.
Social Security is considered the third rail a nation’s politics. Political pundits say that contact with the rail is like touching this high-voltage rail that can result in “political suicide.” That is why the GOP-controlled House Budget Committee has proposed to create a fiscal commission to give lawmakers political cover to enact the cuts without having to vote on the record.
Over two months ago, the most recent budget hammered out by the Republican Study Committee, endorsed by 80 percent of the House Republicans, calls for over $1.5 trillion in cuts to Social Security in just the next ten years., including an increase in the retirement age to 69 and cutting disability benefits Medicare costs for seniors by taking away Medicare’s authority to negotiate drug costs, repealing a $ 35 insulin, and $ 2,000 out-of-pocket cap in the Inflation Reduction Act.
Additionally, the House GOP budget transitions Medicare to a premium support system that the Congressional Budget Office has found would raises premiums for many seniors. Finally, it calls for cuts in Medicaid, the Affordable Care Act, and the Children’s Health Insurance Program by $ 4.5 trillion over ten years, taking health care coverage away from millions of people.
While President Donald Trump, the GOP’s presidential candidate, has previous said he wouldn’t make cuts to Social Security, recent interviews reveal a change. According to a March 11, 2024 web posting by CNN’s Kate Sullivan and Tami Luhby, former President Donald Trump, the Republican candidate for president, “suggested[ in a CNBC interview] he was open to making cuts to Social Security and Medicare after opposing touching the entitlement programs and attacking his GOP presidential primary rivals over the issue.”
At the Polls
Legislative proposals to fix the ailing Social Security and Medicare programs are different as night and day. Rather than to continue to debate the fine points, let’s put the differing policies on the ballot. With just 177 days left before the upcoming November presidential election, Congress must vote on Democratic and Republican legislative proposals, detailing differing provisions as to how these programs can increase the financial stability of these programs. Larson has already thrown his legislative proposal into the hopper, but it won’t see the light of day with a GOP controlled House.
Last year, 66 million Americans received Social Security benefits. This year’s Trustee’s report must send a clear message to these beneficiaries that how Congress acts during the next decade will either make or break the Social Security program.
So, now House Speaker Mike Johnson, (R-La) and Senate President Charles E. Schumer (D- NY) must allow a vote on both Republican and Democratic legislative proposals in their respective chambers. Let Senate and House lawmakers go on the record and publicly be tied to a vote as to which legislative political strategy they endorse to financially shore up Social Security and Medicare. Of course, this can give voters a score card. And if this political issue is as important to them as the economy, abortion, and immigration, they can decide at the ballot box who they should bring back to Capitol Hill.
That’s the American way to do it.
Tag Archives for Social Security Benefits
The legislative wish list of Rhode Island’s groups on aging
Published in RINewsToday on April 15, 2024
The Rhode Island General Assembly’s 2024 session kicked off on Jan. 2, 2024, scheduled to adjourn on June 30, 2024. According to LegiScan, over the last three months 2,164 bills have been thrown into the legislative hopper.
“The state budget will likely be voted upon by the House Finance Committee in late May or early June. Then a week later it is considered by the full House of Representatives, followed by votes by the Senate Finance Committee and the full Senate, and the final step would be consideration by the Governor. That process is usually completed by mid-June to late June because the new fiscal year begins on July 1.” says Larry Berman, who has served as House Communication Director for 22 legislative sessions.“
According to Berman, the Senate and House both focus on their priorities within their own chambers first, and once those bills pass, then discussions take place between the leadership teams of both chambers to finalize bills for passage in both chambers before sending them to the Governor. That time period will be May, and well into June.
Legislative Wish List
Aging advocates are pushing for their legislative agenda’s to be included in the House budget. They also are carefully monitoring the status of bills that have been introduced, specifically those that will have an impact on programs and services delivered to older Rhode Islanders.
Maureen Maigret, Policy Advisor, of Senior Agenda Coalition of RI (SACRI) puts the passage of H 7333 and S 2399 on ita priority legislative list to assist financially struggling seniors and persons with disabilities on Medicare. “As many older adults are struggling financially, SACRI is prioritizing H7333 (by Rep. Karen Alzate) and S2399 (by Senator Sandra Cano) to expand the Medicare Savings Program eligibility up to $28,000. These bills would put more money in the pockets of lower-income persons not on Medicaid by covering the Medicare Part B premiums that amount to $2,100 a year and also help them with prescription drug costs,” she says.
To provide financial help to our many unpaid caregivers we also support S2375 (by Rep. Linda L. Ujifusa) and H7490 (by Rep. Susan Donovan) to create a state tax credit up to $1,000 for half the costs incurred to care for an older family member needing supports and S2121 (by Sen. Valarie J. Lawson) and H 7171 (by (by Rep. Joshua J Giraldo) to increase the Temporary Caregiver Insurance program from six to 12 weeks.
According to Maigret, there are a number of bills addressing housing issues that SACRI also supports including those to promote ADU development, funding for affordable senior housing and incorporating accessibility features into new housing.
H. 7062, sponsored by Rep. June S. Speakman has passed the House. This bill would boost hosing production by helping Rhode Islanders to develop ADUs has been identified by as a high priority this year for House Speaker K. Joseph Shekarchi (D-Dist. 13, Warwick).
“In looking at the Governor’s State FY2025 budget we are advocating to add about $660,000 to the Office of Healthy Aging budget to increase funding to local communities to support local senior centers/programs to reach a level of $10 per each person age 65 and older in the city or town,” notes Maigret. SACRI calls for increased funding to implement the recommended increases for social and human services providers beyond the one-third level proposed by the Governor to help address the long wait list for accessing homecare services and provide more livable homecare staff wages. This is critical as the average private cost of home health aide services in RI is $36/hour, she notes.
“ As our industry continues to fight off the existential threats of inadequate funding and staffing shortages, our Association is staying laser focused on our homes receiving sufficient and sustainable financial reimbursements and supporting all initiatives to improve staff availability. Without substantive help from the General Assembly, we will continue to lose more homes and our ability to care for our most fragile RI citizens,” states John E. Gage, MBA, NHA, president and CEO of the Rhode Island Health Care Association.
At AARP Rhode Island’s 2024 Legislative reception, State Director Catherine Taylor called for passage of H 7127 to provide an optional, voluntary Roth-IRA plan to the 172,000 Rhode Island employees who do not have access to a convenient, low-cost voluntary retirement savings plan through their employer.
The Secure Choice program, endorsed by Gov. Dan McKee and AARP Rhode Island, would be administered by the office of the General Treasurer, would see retirement savings accumulated in individual accounts for the exclusive benefit of the participants or their beneficiaries.
The legislation has been referred to the House Finance Committee. A similar measure (S 2045) has been introduced in the upper chamber by Sen. Meghan E. Kallman.
According to Taylor, Secure Choice has been enacted in 18 states to date. In Connecticut, the program led to over 25,0000 workers saving over $19 million dollars in the first year of operation. These savings would not have been realized without Secure Choice.
Taylor also noted that Rhode Island is one of only 8 states that tax hard-earned Social Security benefits. “Our state tax on Social Security undermines the purpose of Social Security, which was designed to lift older adults out of poverty – not to fund state government,” she says.
AARP Rhode Island supports the efforts of Sen. Elaine Morgan (S 84) to completely eliminate the state tax on Social Security income and Sen. Walter Felag (S 246) to increase the thresholds to $ 110,000 for single, and $ 140,000 got joint filers, says Taylor.
“We would like to see the passage of S. 2556 [by Senators Lou Dipalma, Bridget Valverde, John Burke, and Pam Lauria] and H. 7493, sponsored by Rep. Scott Slater and Rep. Grace Diaz, that would establish a 20% add-on to the Medicaid per diem rate for nursing homes that have single-occupancy rooms and bathrooms,” says James Nyberg, executive director of LeadingAge RI.
According to Nyberg, there is a growing body of research that shows the benefits of single rooms on residents’ physical ad mental health and well-being, which was clearly exposed by the COVID-19 pandemic. “There is also the simple fact that it promotes human dignity. Older Rhode Islanders should not have to share a bathroom and shower with strangers during a frail time of life,” he says.
“As for the budget, we want to ensure that the nursing home funding included in the Governor’s budget is maintained, and the Office of the Health Insurance Commissioner recommended rate increases be expedited, if possible, as well,” says Nyberg.
Just a Few More to Watch
Here is a sampling of other bills, of interest to aging advocates, thrown into the legislative hopper this legislative session:
Sen. Linda L. Ujifusa and Rep. Megan Cotter are sponsoring a bill (H 7208, S 2063) to provide relief to some of the state’s most vulnerable households by raising the eligibility limit and the maximum credit for the “circuit breaker” tax credit, which benefits low-income seniors and individuals with disabilities. The bills have been referred to their chamber’s Finance Committee.
The circuit breaker credit program provides an income tax credit to low-income Rhode Island homeowners and renters who are over 65 or disabled, equal to the amount that their property tax exceeds a certain percent of their income. That percent ranges from 3 to 6 percent, based on household income. In the case of renters, a figure representing 20 percent of their annual rent is used in the place of property tax in the calculation.
The Senate approved S 2082, sponsored by Sen. Melissa A. Murray, to limit insured patients’ co-pays for supplies and equipment used to treat diabetes to $25 for a 30-day supply.
The legislation would apply to private insurers, health maintenance organizations, nonprofit hospital service or medical service corporations and the state employee health insurance plans that cover such supplies. Under the bill, beginning Jan. 1 (or, for state employees, the next time the health plan contract is purchased or renewed by the state), co-pays for insulin administration and glucose monitoring supplies shall be capped at $25 for a 30-day supply, or per item when an item is intended to be used for longer than 30 days.
During this legislative session, S 0089 and H 5417 were introduced by Senator Meghan Kallman and Rep. Evan P. Shanley and take their savings with them when they change jobs. The legislative proposals have been referred to the House Finance and Senate Committees for consideration.
For more details about legislation being considered by the Rhode Island General Assembly, go to https://legiscan.com/RI/legislation/2024.
___
Social Security must be key issue in 2024 Presidential Election
Published in RINewsToday on July 17, 2023
Last Wednesday, 178 House Democrats, (90% of the House Democratic caucus) led by Rep. John Larson (D-Conn.) introduced H.R. 4583, the “Social Security 2100 Act of 2023.” The 108-page bill would expand Social Security’s benefits, with no cuts, and keep the system fiscally strong for decades to come. Senator Richard Blumenthal (D-Connecticut) has introduced the companion measure in the upper Chamber.
In May, to drum up support, enthusiasm, and attention for H.R. 4583, Larson, House Ways and Means Social Security Subcommittee Ranking Member, was joined by House Democratic Leader Hakeem Jeffries (D-,New York), Ways and Means Committee Ranking Member Richard Neal (D- Massachusetts) and other House leaders to announce the upcoming introduction of Social Security 2100.
“10,000 Baby Boomers a day become eligible for Social Security, making the point of acting now even more urgent, says Larson. “I am proud to be joined again by a majority of my Democratic colleagues to introduce Social Security 2100, and again, ask my Republican colleagues, whose legislation we’ve included, to join us in helping uplift the 65 million Americans who rely on it. Including lifting 5 million Americans out of poverty, providing 23 million a tax cut, and making sure that Americans are able to get the essential benefits that allow them to pay rent, buy groceries, and fill their prescriptions,” he says.
“It’s important that the Social Security benefits that working Rhode Islanders have earned keep up with the cost of living, and that’s exactly what H.R.4583 – Social Security 2100 Act will accomplish. Unfortunately, extreme Republicans in the House are trying to cut Social Security instead of strengthening it. But I am determined to fight for Rhode Island’s seniors in Congress to ensure they receive the benefits they’ve earned,” says Congressman Seth Magaziner (D-R.I.), a sponsor of the legislative proposal.
H.R. 4583: The Nuts and Bolts
On July 12, 2023, H.R. 4583 was introduced and referred to the House Ways and Means, Education and Labor, and Energy and Commerce Committees, being introduced in the lower chamber that day.
According to a legislative fact sheet, H.R. 4583, the legislative proposal would increase and expand essential benefits to Social Security beneficiaries. Larson’s legislation would:
• Increase benefits 2% across the board for all Social Security beneficiaries for the first time in 52 years.
• Improve the Cost-of-Living Adjustment (COLA), so it reflects the inflation actually experienced by seniors.
• Increase benefits to boost lower income seniors.
• Improve benefits for middle-income widows and widowers from two-income households.
• Restore student benefits up to age 26, for the dependent children of disabled, deceased, or retired workers.
• Increase access to benefits for children living with grandparents or other relatives.
• Repeal the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that currently penalize many public servants.
• End the 5-month waiting period to receive disability benefits.
• Increases benefits by an additional 5% for the most elderly and those who have been receiving disability benefits the longest, those beneficiaries who have been receiving benefits for 15 years or more.
• Provide caregiver credits to ensure that people (mostly women) are not penalized in retirement for taking time out of the workforce to care for children or other dependents.
• End the disability benefit cliff, replacing it with a gradual offset for earnings.
• Cut taxes for 23 million middle-income beneficiaries.
• Correct an unintended flaw in how Social Security benefits are wage-indexed, to prevent benefits from dropping (a “notch”) if the wage index decreases.
• Ensure that these benefits do not result in reduced Supplemental Security Income (SSI) payments or a loss of eligibility for Medicaid or CHIP.
• Combine the Old-Age and Survivors Insurance (OASI) and the Disability Insurance (DI) Trust Funds into one fund to ensure seamless benefit payments.
• Provide the Social Security Administration with resources to improve customer service.
Social Security 2100 Pays for These Benefits by:
• Ensuring millionaires and billionaires pay their fair share by applying FICA to earnings above $400,000.
H.R. 4583 would pay for strengthening the Social Security Trust Fund and pay for the enhanced benefits by having millionaires and billionaires pay their fair share by applying FICA to earnings above $400,000, with those extra earnings counted toward benefits at a reduced rate. The bill closes the loophole of avoiding FICA taxes and receiving a lower rate on investment income by adding an additional 12.4% net investment income tax (NIIT) only for taxpayers making over $400,000.
Social Security advocates call for passage
“By re-introducing his revised Social Security 2100 Act, Congressman John Larson once again defies the media narrative that ‘no one in Washington has the courage’ to address the program’s future,” says Max Richtman, President and CEO, of the Washington, DC-based National Committee to Preserve Social Security and Medicare, noting that the legislation extends the solvency of the Social Security trust fund for decades while also providing American seniors with an expansion of benefits. Larson tackles the funding of the expansion of benefits by asking high earners to begin paying their fair share into the program, says Richtman.
“At a time when House Republicans have proposed cutting benefits by raising the retirement age and other means — Congressman Larson offers a commonsense, fair, and forward-looking plan.
Not only is the Social Security 2100 Act wise policy, but it’s also overwhelmingly popular with voters across the political spectrum,” says Nancy Altman, President of Social Security Works and Chair of the Strengthen Social Security Coalition.
As the debate over Social Security heats up before the 2024 Presidential election, Altman charges that the nation’s media refuses to “take Democratic plans to protect and expand Social Security seriously, and fails to call out Republicans for their unwillingness to state what they are for, not just what they are against.”
“Reporters are implicitly dismissing these bills because they cannot pass the House and Senate without Republican support. Instead of pressuring Congressional Republicans to introduce their own legislation, the mainstream media provides the Republicans with the cover they seek by claiming that both parties are avoiding action on Social Security” says Altman.
According to Altman, earlier this year President Joe Biden used the presidential bully pulpit at the State of the Union address to call out Republicans for their plans to cut Social Security and Medicare, forcing them to take these program cuts off the table during the debt ceiling negotiations. “If Biden champions a plan that expands benefits with no cuts, while requiring those earning over $400,000 to pay more, the mainstream media will be unable to ignore it,” predicts Altman.
Congressional strategies regarding Social Security
On the same day that Larson introduced his legislation, Senator Sheldon Whitehouse (D-R.I.), Chairman of the Senate Budget Committee, held a hearing, “Protecting Social Security for All: Making the Wealthy Pay Their Fair Share,” on his legislation, S. 1174, the Medicare and Social Security Fair Share Act. A companion measure was introduced in the House by Congressman Brendan F. Boyle (D-Pennsylvania), Ranking Member of the House Budget Committee.
At the July 12th Senate Budget Committee hearing, Whitehouse explained that his legislation would bring enough revenue from the wealthiest to ensure that Social Security benefits will be paid and on time for the next 75 years and beyond.
“Right now, the cap on Social Security contributions means a tech exec making $1 million effectively stops paying into the program at the end of February, while a schoolteacher making far less contributes through every single paycheck all year,” says Whitehouse at the hearing. “That’s not fair, and my Medicare and Social Security Fair Share Act would fix that by requiring contributions to Social Security on wages above $400,000,” said the Rhode Island Senator.
Whitehouse stressed the importance of Social Security to his Rhode Island constituents, by mentioning their comments and thoughts.
“I rely on my Social Security as my only source of income. I would find it impossible to continue to live independently if Social Security were changed, reduced or eliminated. Social Security benefits were a contract between the federal government and its citizens,” said Robert of Pawtucket.
Another Rhode Islander, Antonella of North Providence, said: “I would be very sad and depressed if there were any cuts to Social Security. I just get by as it is.” And Laurel of Pawtucket said that without Social Security, she “would have to go back to work and probably have to work until I die.”
Earlier this Congress, Senators Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.) introduced their own bill, S. 393, the Social Security Expansion Act (Whitehouse is an original cosponsor). The Sanders-Warren bill would expand benefits by $ 2,400 each year while fully funding the program for the next three-quarters of a century and beyond.
As to the GOP position on Social Security, the House Republican Study Committee released a plan to cut Social Security by $718 billion over 10 years. This plan, endorsed by three-fourths of the House GOP Caucus), would also raise the retirement age to 69 (for everyone who is currently 59 and younger), which would effectively cut benefits by an estimated 13 percent every year and especially harm low-income workers. It would also reduce benefits for future beneficiaries who earned a “higher salary” before retirement. Also, only “modest adjustments” to the Social Security program as it operates would be made but it doesn’t clarify the changes.
It is important to note that three fourths of the House GOP caucus endorse the RSC budget, making cuts to Social Security and Medicare.
According to SSW’s Altman, while Democratic proposals (Larson, Whitehouse and the Sanders- Warren proposals) to expand Social Security and Medicare are popular with Democratic, Republican and independent voters, Republican politicians have chosen to not co-sponsor any of these bills.
My final thoughts…
Polls show that Social Security and Medicare, two of the nation’s largest social safety net programs, are extremely popular. According to a poll released in March 2023 by the Associated Press and NORC Center for Public Affairs research, 79% of Americans are opposed to reducing the benefits that Social Security beneficiaries receive. As to raising Social Security’s eligibility age from 67 to 70, 75% of American’s were against it.
Another poll released last March found that nearly 9 in 10 Americans say they oppose reducing spending on Social Security or Medicare, according to polling from Axios.
The Congressional debate on financially shoring up Social Security and expanding benefits is of extreme interest to 66 million older and disabled people (175,840 beneficiaries in Rhode Island), who rely on monthly payments from the program. But the Social Security debate must include America’s younger generations, too.
With 477 days left before the 2024 presidential elections, expanding Social Security and making the program fiscally sound and to ultimately be available to Gen Exers (1965 to 1979), Millennials (1980 to 1994), Gen Z (1995-2012) and Gen Alpha (2013 to 2025) must become a key election issue. Social Security beneficiaries and America’s younger generations must call on Congress to expand Social Security benefits and ensure its fiscal viability for every generation. “Keep Your Hands Off Social Security” must be the powerful message they send to all presidential and congressional candidates before the upcoming 2024 presidential election.
To review the text of Larson’s H.R. 4583, “Social Security 2100: A Sacred Trust Act,” go to https://larson.house.gov/sites/evo-subsites/larson.house.gov/files/evo-media-document/final-2023.07.11-text-of-social-security-2100-act.pdf.
To watch a video of Larson’s May press conference announcing the upcoming introduction of H.R. 4583, the Social Security 2100, go to https://www.youtube.com/watch?v=WO8QYRRQ-UQ.
Here is a copy of RSC’s FY 2024 Budget, Protecting America’s Economic Security https://hern.house.gov/uploadedfiles/202306141135_fy24_rsc_budget_print_final_c.pdf.
Herb Weiss 