Congressional Progressive Caucus Endorses Larson's Social Security 2100 Act
Washington – Today, Rep. John B. Larson (CT-01) announced that the Congressional Progressive Caucus (CPC) endorsed his legislation to expand and strengthen Social Security. The Social Security 2100 Act would increase benefits for all current and future beneficiaries, institute an improved cost-of-living adjustment, cut taxes for millions of beneficiaries, and ensure Social Security remains solvent through the end of the century.
“No one fights for the working families of this country like the Congressional Progressive Caucus, which is why I am honored to have their support of this important legislation to protect and expand Social Security,” said Larson. “Americans are facing a retirement crisis, and we must expand Social Security to solve this problem. Social Security is the most effective anti-poverty program, keeping millions of Americans afloat. This legislation takes commonsense steps to keep Social Security strong for generations to come while improving the vital benefits that Americans have earned through years of hard work. We must make sure no American who has worked hard all their life retires into poverty, and the Social Security 2100 Act provides the fix we need.”
“Every American pays into our Social Security system with the expectation that this earned benefit will be there for them when it comes time to retire,” said Rep. Raúl M. Grijalva (AZ-03). “We must strengthen this vital lifeline and expand benefits to ensure Social Security is meeting the needs of seniors in the 21st century. I commend John on his leadership protecting not only our seniors, but every other American who will rely on Social Security when they reach retirement as well.”
“The American people are tired of endless cuts to the benefits they’ve earned” said Rep. Keith Ellison (MN-05). “They’re tired of being asked to make sacrifices while corporate profits are soaring. I’m proud to stand with Mr. Larson as he introduces the Social Security 2100 Act, which will protect and expand Social Security for this generation, and for generations to come.”
The Social Security 2100 Act will ensure the solvency of the trust fund for the next 75 years and beyond according to the independent analysis of the Chief Actuary of the Social Security Administration (SSA). Additionally, it would improve the cost of living adjustment (COLA) by adopting a formula that better reflects the costs seniors incur, increase the minimum retirement benefit to 25% above the poverty line to protect low-income workers, and ensure millionaires and billionaires pay into the program at the same rate as other Americans.