Larson, Reed Statements on Bipartisan Roundtable Discussion on Social Security
Washington, D.C. – Today, House Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) and Ranking Member Tom Reed (NY-23) released the following statements after they held a roundtable discussion on Social Security and the COVID-19 pandemic.
“The COVID-19 pandemic has underscored the urgency. We need to act now to strengthen Social Security. Even before the pandemic struck, Social Security was set to be paying out more than it was taking in. During today’s discussion, I made it clear that this is the time to roll up our sleeves and work. During this pandemic many will be relying on their benefits now more than ever. Without Social Security 43 percent of women would be living in poverty. Even with it, there are still 5 million Americans who receive benefits that are below the poverty line. We need to increase benefits to help people get through this crisis. That’s why I introduced the Emergency Social Security Benefits Improvement Act which expands benefits and helps those most in need. This will also help stimulate the economy, because no one is hoarding their Social Security check. They are spending that money,” said Larson.
“Today’s expert roundtable discussion helped to preview some of the added challenges COVID-19 has created for Social Security. The pandemic has underscored the need to continue work on a bipartisan solution that ensures Social Security can be relied upon for future generations of Americans. We look forward to collaborating with our colleagues on polices that reward work, encourage economic growth, and protect our vulnerable populations,” said Reed.