In the News: Social Security 2100 Act
More on In the News: Social Security 2100 Act
President Joe Biden on March 11 released his $7.3 trillion proposed budget for fiscal year 2025, which calls for protecting Social Security, raising the corporate tax rate and quadrupling the tax on corporate stock buybacks.
Washington, D.C. - Today, Ways and Means Social Security Subcommittee Ranking Member John B. Larson (CT-01) released the following statement after President Biden released his Fiscal Year 2025 budget plan, laying out a vision to protect and strengthen Social Security.
Washington, D.C. - Last night, Rep. John B. Larson (CT-01) responded to President Biden’s State of the Union with an address on the State of Social Security.
You can view Rep. Larson's address here.
In his State of the Union Address, the President promised to stop Republican attempts to cut to Social Security and called on Congress to strengthen the program by making the wealthy pay their fair share.
Washington, DC – Today, Rep. John B. Larson (CT-01) released the following statement after President Biden highlighted the need to protect and strengthen Social Security during tonight’s State of the Union.
Congressional Democrats and other defenders of Social Security and Medicare responded with alarm after U.S. House Budget Committee Republicans on Thursday advanced a sweeping resolution that includes support for a fiscal commission intended to gut the crucial programs.
Last February, thousands of seniors sent letters with the AARP to President Joe Biden ahead of his annual State of the Union address. Their message: “Urge Congress to keep their hands off our Social Security and Medicare.”
Those efforts worked.
March 2 marked the day that millionaire earners were finished paying into Social Security for the rest of the year. Working- and middle-class Americans, however, continue to pay all year long. If you think that’s absurd, it is.
The problem lies in the income cap that shields millionaires and billionaires from having to pay their fair share. Right now the wealthy are only paying their first $168,600 of wage income. They end up being taxed only on a small portion of their earnings while most Americans end up being taxed on 100% of their earnings.
WASHINGTON - Today, Social Security Works and Data for Progress released new polling showing that voters overwhelmingly reject Social Security cuts, as well as the idea of a closed-door “fiscal commission” to determine Social Security’s future. Instead, they want Congress to raise taxes on wealthy Americans to protect Social Security.