Larson Demands Action to Strengthen Social Security
Washington – At today’s Ways and Means Committee Hearing, Rep. John B. Larson (CT-01) spoke with Secretary Jack Lew of the U.S. Department of the Treasury about the need for Congress to take swift action to strengthen Social Security. Larson previously introduced the Social Security 2100 Act to cut taxes, increase benefits, safeguard against inflation, and ensure Social Security remains solvent through the end of the century.
“Social Security is a lifeline for millions of Americans,” said Larson. “It often gets called an entitlement program, but it is actually an insurance program paid for by hardworking Americans throughout their lives. It is long past time for the Ways and Means Committee to hold a hearing on how we can protect retirees—many of whom rely solely on Social Security for their income. My proposal would not only increase benefits, but cut taxes for millions of Americans. Surely those of us on both sides of the aisle can find the common ground to do what is right for the people.”
Click above to watch Rep. Larson’s remarks or visit https://youtu.be/6XflPdMEBgQ
The Social Security 2100 Act would 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). It would also improve the cost of living adjustment (COLA) by adopting a formula that better reflects the costs seniors face, increase the minimum retirement benefits to prevent workers from retiring into poverty, and ensure millionaires and billionaires pay into the fund at the same rate as everyone else.