Last week, I spoke on the House floor in support of the Social Security 2100 Act, a bill that I helped to introduce alongside Congressman John Larson and nearly 200 of my colleagues, to enhance benefits and protect Social Security for years to come.
This commonsense legislation will ensure the continuation of Social Security, increase benefits by 2% across the board for all beneficiaries for the first time in 52 years, improve the Cost-of-Living Adjustment (COLA) so it reflects the inflation actually experienced by seniors, and more.
The Social Security 2100 Act pays for these benefits without adding a penny to the national deficit by applying FICA to earnings above $400,000 and by closing the loophole of avoiding FICA taxes and receiving a lower rate on investment income for taxpayers making over $400,000.
For 88 years, the Federal Government has kept the promise to all Americans: if they contribute to Social Security with each and every paycheck, they would be able to retire with dignity.
Since my first day in office I have been a strong advocate for Social Security - as an original cosponsor of the Social Security 2100 Act in 2014, to my recent remarks on the House floor in defense of Social Security - I remain committed to protecting our promise and keeping our seniors from retiring in poverty.
To the 176,000 beneficiaries of Social Security in NEPA, the 30% of beneficiaries nationwide with no other visible source of financial support, and everyone who has spent their careers paying into Social Security, I want you to know that I will continue to fight on your behalf to ensure that this program not only remains, but it's benefits also adjust to meet changes in cost of living.