Larson gives seniors in Barkhamsted update on Social Security

U.S. Rep. John B. Larson, D-1st District, the ranking member of the House Ways and Means Social Security Subcommittee, visited the Barkhamsted Senior Center on Tuesday to discuss the status of Social Security and what he believes must happen if it is to remain “the No. 1 anti-poverty” program for seniors and children.

Larson sponsored the Social Security 2100 Act, first introduced in 2019, that would bring Social Security into the 21st century, but it has yet to be passed despite having 200 supporting signatures.

“Do you know how long it has been since Congress has enhanced Social Security?” he asked his listeners. “1971. Richard Nixon was still president. Even the cost-of-living increases are inadequate. And now there are people out there spreading real disinformation, saying the Republicans don’t want to cut Social Security; they just want to raise the age limit. Well, don’t you believe it. For every year you raise the age limit, it amounts to a 7% cut.”

Larson, who toured a proposed affordable housing site and took part in a ribbon cutting for the new patio at the senior center while in town, said Social Security benefits not just retirees, but also children, veterans, widows and the disabled.

“More vets depend on Social Security than they do on the VA,” he said of Veterans Affairs. “And every day 10,000 more baby boomers become eligible to sign up.”

He said Social Security is more than just an economic foundation for senior citizens, noting the money goes back into the local economy as recipients use it to support themselves.

Social Security 2100 Act would increase benefits 2% across the board; improve the cost-of-living adjustment; increase benefits to lower-income seniors; improve benefits for widows and widowers from two-income households; restore student benefits up to age 26 for the dependent children of disabled, deceased or retired workers; and increase access to benefits for children living with grandparents or other relatives.

It would pay for the improvements by ensuring that millionaires and billionaires pay at the same rate as lower-income earners.

“Would they pay more? Yes, but it would be at the same rate as you or me,” Larson said, adding that some of the nation’s richest citizens contribute nothing at all.

The act also would close the loophole of avoiding FICA taxes and receiving a lower rate on investment income by adding an additional 12.4% net investment income tax only for taxpayers making over $400,000.

Larson said the solution is for Congress to vote.

“If you have another plan, put it out there, but vote on something,” he challenged other members of Congress.