Making Social Security Solvent: Larson, Hayes Explain 2100 Act to Torrington Seniors

TORRINGTON – U.S. Reps. John B. Larson, D-1st District, and Jahana Hayes, D-5th District, spoke Thursday about proposed changes to Social Security at the Sullivan Senior Center. 

Social Security 2100 Act would enhance the program, the legislators said during a session attended by about 35 people. The last enhancements to the program were done in 1971 by President Richard Nixon, Larson noted. 

Among other changes, the bill would lift the tax cap on earnings of more than $400,000, Larson said. Social Security taxes now are capped on incomes beyond about $169,000. The proposed change means anyone making more than $400,000 would no longer benefit from the cap. 

“Millionaires, just ordinary millionaires, not multibillionaires,” Larson said. “They made their last payment into Social Security in February.” 

Every other working American pays all year, Larson said. His solution is “to scrap the cap.” Doing so, he said, would extend the solvency of the program into 2066. The bill endeavors to ensure no senior retires into poverty by increasing the benefit all around. 

“Under our legislation, it will be 125% of what the poverty rate is,” Larson said. “So, again, nobody’s going to get wealthy on that, but nobody should be receiving it below poverty level.” 

He noted most of those who get such low payments are women who did not clock as much time at work as men because they stayed home raising children or made less than male counterparts in the same professions. 

The bill also would repeal the windfall elimination provision enacted 30 years ago that affects teachers, firefighters, and other public servants and their spouses, Larson said. According to the Social Security Administration’s website, the WEP affects anyone who works for an employer that doesn’t withhold Social Security taxes, such as a government agency, and can reduce benefits. 

Connie Burks, a retired teacher in the audience, said when she handed in her retirement papers, she knew nothing about the WEP. 

“It turns out I lose a lot every month and I have a part-time job now because of that,” she said. “My life has been changed for something I knew nothing about.” 

Hayes spoke of her grandmother, who raised her on Social Security and often said it was not a subject that solely affects the elderly. 

She noted, “93,000 families rely on Social Security in this district. When I went to school and we did weekly readers, and I heard about cuts to the program and what was being proposed at the legislative level, even as a third-grader, that made me afraid.” 

Social Security 2100 Act is sponsored by Sen. Richard Blumenthal, Larson said, urging people to call their congressional office to increase support for the bill. 

He added, “10,000 baby boomers a day become eligible for Social Security and they are now calling our offices.”