Larson: Social Security is Not an Entitlement
Washington, D.C. – During today’s Ways and Means Tax Subcommittee hearing Rep. John B. Larson (CT-01) defended Social Security by pointing out it is insurance Americans pay for, not an entitlement, and highlighting the need to expand the program.
“As members of today’s panel pointed out, if we make no improvements, come 2034, Social Security will not be able to make benefit payments in full. The other side of the aisle needs to get their heads out of the sand and work on a solutions rather than cutting benefits and raising the retirement age on beneficiaries so the majority can pay for their enormous tax cuts. These aren’t solutions for Americans - these are sentences. At a time when so many older Americans are under water for so many reasons, not the least are working women who are retiring into poverty; we find the Committee that can correct it sitting silent.
“Social Security is not an entitlement, it is the insurance that Americans pay for through the Federal Insurance Contribution Act (FICA) with every paycheck. It is exactly what it says, an insurance contribution that we pay into. My bill, the Social Security 2100 Act, would enhance the program, give current beneficiaries a benefit bump, and make the program solvent beyond the 75 year window. We need to come together and work on solutions, not cuts,” said Larson.
Larson introduced the Social Security 2100 Act, which would expand and enhance the program and make it solvent beyond 2100. It has the support of over 170 cosponsors.
Go to 3:36 to watch Larson’s remarks.