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Larson Opposes Trump’s Move to Defund Social Security

August 10, 2020
Press Release

Hartford, CT – House Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) released the following statement after President Trump said he wanted to permanently cut payroll taxes.

 

“Trump’s plan to defund Social Security is the latest salvo in Republicans’ decades long goal to cut Social Security. They have tried to privatize it and they’ve tried to cut it through commissions.

 

“Since I’ve been the Chair of the Committee, the Republicans have been talked the talk but haven’t walked the walk. They say they want to protect the program but they won’t work to ensure it is there for every American who has contributed whether they are 18 or 85 years old. Now they are using the pandemic to speed up the process and deliver a death blow!

 

“The payroll tax proposal is the single worst way to get relief to beleaguered Americans - it is stealing from their retirement to make up for the administration’s failure to contain the virus and save our economy. Americans need help but not this way. 200+ House Democrats and I have a solution to safe-guard Social Security and make it sustainable for future generations with the Social Security 2100 Act. Republicans on the other hand want us to do nothing. Doing nothing would result in a 20 percent benefit cut and weaken the program.

 

“Now, they’re sounding the death knell. President Trump is pushing forward with pay roll tax deferral, with the promise of a permanent cut down the line. This not only defunds Social Security and weakens it, but it also opens the door for permanent cuts down the road. It also leaves working Americans with a huge tax bill come April. It’s time for Republicans to stop beating around the bush and be honest with what they’re trying to do: defund Social Security!”

 

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