I am proud that the Social Security Administration has estimated that our legislation to expand Social Security benefits by $2,400 a year will fully fund Social Security for the next 75 years by applying the payroll tax on all income – including capital gains – above $250,000 a year.” It’s time to scrap the cap, expand benefits, and fully fund Social Security. And we will do that by demanding that the wealthiest people in America pay the same amount of Social Security taxes as someone making $147,000 a year. “Our job must be to expand Social Security so that every senior citizen in America can retire with the dignity they deserve and every person with a disability can live with the security they need.
“At a time when half of older Americans have no retirement savings and millions of senior citizens are living in poverty, our job is not to cut Social Security,” said Sen. “This legislation would ensure that the Social Security Trust Fund remains solvent for another 75 years, increase monthly benefits for most recipients by $200, and alter the cost-of-living-adjustment (COLA) formula to meet the everyday needs of our nation’s seniors.” With the cost of living at an all-time high, Social Security has never been more important, yet Congressional Republicans continue to play games with its funding,” said Rep. One of my highest priorities is protecting Social Security, which millions of Americans rely on, including hundreds of thousands of Oregonians. “As a trained gerontologist, I have devoted my career to protecting and expanding programs that are vital to seniors. WASHINGTON - Congressman Peter DeFazio and Senator Bernie Sanders today introduced joint legislation, the Social Security Expansion Act (SSEA), to strengthen and expand Social Security for current and future generations.
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