Mobile Menu - OpenMobile Menu - Closed

Connect

The price of a cup of coffee may be the answer to fixing Social Security

August 17, 2019
In The News

When Rep. John Larson, D-Conn., travels the country to talk about his plan for Social Security reform, he often holds up a Starbucks coffee cup.

The cost of that latte — about $4.50 — could also cover nine weeks of Social Security payments if you’re making $50,000 per year, Larson said he points out to seniors on those visits.

“Can we do this, America?” Larson said he typically asks those crowds, in an interview with CNBC.com in June. Many answer with affirmative nods of their heads.

Congressional lawmakers will face that same question when they return from recess this fall to debate the Social Security 2100 Act.

Judging by a recent House Ways and Means Committee hearing on the topic, lawmakers will likely be divided along party lines. The bill currently has 210 co-sponsors. A mark-up is expected this fall. Supporters hope that will be followed by a House floor vote.

Much of whether it gets the go-ahead depends one question: How much are you willing to spend to shore up the country’s legacy insurance and anti-poverty program?