“Older women receive about 80% of the retirement income older men receive,
a disparity that mirrors the gender pay gap.” - NIRS
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Building upon the growing public support for expanding Social Security, the National Committee to Preserve Social Security and Medicare (NCPSSM) has launched the Boost Social Security Now education campaign to inform and mobilize our membership, grassroots networks and on-line communities to convince Congress that now is the time to boost benefits, not cut them.
Click through to read the full release.
The “Strengthen Social Security Act of 2013” gets rid of this loophole, boosts benefits, and would extend the solvency of Social Security by almost two additional decades, until 2049.
via Entitled to Know.
We’re building upon the growing public support for expanding Social Security by launching the Boost Social Security Now education campaign to inform and mobilize our membership, grassroots networks and on-line communities to convince Congress that now is the time to boost benefits, not cut them. For more than 30 years NCPSSM has been recognized as one of the nation’s most ardent and effective defenders of America’s social insurance safety net. In 2012, the National Committee expanded its focus on Social Security with the release of a proposal to modernize benefits, which included caregiver credits, shifting the annual cost of living adjustment formula to one designed for elderly consumers and improving the basic benefit of all current and future beneficiaries. Since that time, the call for expanded benefits has grown louder and includes support from within Congress including Senators Elizabeth Warren, Tom Harkin and Bernie Sanders, and Representatives Linda Sanchez and Gwen Moore.
On behalf of the millions of members and supporters of the National Committee to Preserve Social Security and Medicare, I write to endorse your legislation entitled the “Social Security 2100 Act.” The National Committee commends you for introducing this legislation, which extends the solvency of both the Old-Age and Survivors and the Disability Insurance Social Security trust funds throughout the 75-year valuation period.
Your bill gives all Americans confidence that Social Security will be there for them when they need it, whether they apply for retirement or disability benefits. Moreover, your bill achieves this while at the same time making important improvements to the benefits Social Security provides.
Some lawmakers are saying that Social Security is facing a crisis. The Senate Budget Committee recently held a hearing on “The Coming Crisis: Social Security Disability Trust Fund Insolvency;” today, a House subcommittee is holding a hearing on the “looming insolvency of the Disability Insurance program.”
Related Reading:
Legislation just introduced in the U.S. House would put extra money in
Social Security beneficiaries’ pockets while keeping the system solvent
through the rest of this century. Rep. John Larson’s Social Security 2100 Act
does all of that and something more: It gives lie to the myth that
Social Security is going bankrupt and the only way to fix it is by
cutting benefits.
More on the Social Security 2100 Act here.
PETERBOROUGH — Select Board members have unanimously endorsed a resolution calling on Congress to increase Social Security payments immediately.
Included in the “Social Security 2100 Act” are the following benefit improvements:
- An across-the-board increase for all beneficiaries of about 2 percent, a change that is projected to yield an annual increase for the typical retiree of $300;
- Adoption of the Consumer Price Index for the Elderly (CPI-E) for the purpose of determining cost-of-living adjustments for Social Security beneficiaries;
- Tax relief for Social Security beneficiaries due to an increase in the threshold for taxation of Social Security benefits to $50,000 for individuals and $100,000 for joint filers, up from $25,000 and $32,000 respectively; and
- An increase in the special minimum benefit so that it equals up to 125 percent of the poverty level for an individual. This would be indexed in future years by increases in the average wage level prevailing in the national economy.
via NCPSSM.
His budget plan is expected to be released in the next few weeks, but President Barack Obama hasn’t yet revealed if it’ll include the Social Security cuts that were in his budget last year. The president is facing a rebellion on his left flank, which is mobilizing against the so-called Chained CPI policy ahead of the November congressional elections. Chained CPI modifies the rate of inflation in a way that slows the growth of Social Security benefits, among other things.
Now is the time to BOOST Social Security, not cut it. The President needs to drop Chained CPI, which will cut benefits for seniors, veterans, and the disabled.
Since today is Social Security’s 77th Anniversary, here is the actual bill, signed by Franklin D. Roosevelt.