John,

In recent months Republican Senator Bill Cassidy and Maine Independent Angus King have been quietly shopping a plan to raise the retirement age to 70. Their plan would also create a new, risky fund separate from the Social Security Trust Fund for Wall Street to extract fees from in exchange for gambling on the stock market―with taxpayers on the hook to automatically bail it out if Wall Street’s bets don’t pay off.

Our legislative team has been working behind the scenes to warn our allies away from this, as Cassidy strategically leaked elements of the plan without revealing that his math only works if you bake in the 21% Social Security cut that raising the retirement age represents.

Social Security Works played a crucial role in revealing the full breadth of the proposal―and we’ve successfully made Cassidy’s plan radioactive:

This plan was doomed from the start. Cassidy’s effort to avoid a 20% cut to Social Security a decade from now by baking in a larger cut today doesn’t make a lick of sense. This plan could only win if it was able to build up enough momentum before all the details came out that it became inevitable. We stopped it.

Cassidy wanted a payday for his Wall Street paymasters, at the expense of American seniors. We said no way.

We are working day and night to ensure that there is no backroom for any politicians to hide in and plot to cut our earned benefits. We will expose any and all plots against our earned benefits.

When politicians try to dismantle our Social Security system behind closed doors, we’re here to stop them. Can you donate $7 today?

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Thanks,

Michael Phelan
Social Security Works