Tell Congress:
“The last significant update to Social Security was over 35 years ago. At a time of increasing income and wealth inequality, disappearing pensions and unstable 401(k)s, Social Security is a critical lifeline for retirees, children, surviving spouses, veterans and people with disabilities. We urge you to pass the Social Security 2100 Act this year to protect and expand the earned benefits of millions of Americans.”
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Friend,
 
“Social Security expansion would likely bolster, not hurt, economic growth.” That’s the title of a new blog post by EPI’s Monique Morrissey. In it, Morrissey argues that “Social Security expansion is a win-win policy.” And even conservative supply-side models agree “that the [Social Security 2100] Act would have the intended effect of increasing retirement income.”
 
Every day, we’re fighting to address rising levels of income and wealth inequality―and that includes immediately addressing the retirement security crisis.
 
The Social Security 2100 Act―introduced by Rep. John Larson (D-Conn.)―would increase Social Security benefits for all recipients and protect low-income workers with an additional increase in the minimum monthly benefit.
 
It also helps Social Security maintain its benefits over time by fixing the formula for yearly cost-of-living adjustments so that it better reflects the real expenses seniors face.
 
Become a grassroots co-signer of the Social Security 2100 Act today to protect and expand Social Security for millions of Americans!
 
In addition to protecting and enhancing Social Security, this legislation makes sure that our Social Security system is strong into the 22nd century by closing the projected shortfall in the 2030s and INCREASING benefits across the board―not cutting them. It's paid for by raising payroll contributions slightly over time and requiring millionaires and billionaires to pay their fair share.
 
Progressive Social Security expansion along the lines of the Social Security 2100 Act would have a positive effect on economic growth, according to former CEA Chair Jason Furman and former Treasury Secretary Lawrence Summers, among other economists who support expansion and view it as beneficial for the economy.
 
Here’s how the legislation would work:
  • Social Security 2100 Act would subject earnings above $400,000 to Social Security FICA contributions―currently nothing above $132,900 is subject to Social Security payroll contributions. (The current policy means multi-millionaires pay the exact same into Social Security as a family earning $132,900.)
  • The Social Security 2100 Act also gradually raises the payroll tax rate, increases benefits in a progressive fashion; and changes the cost-of-living adjustment to better match the higher inflation faced by seniors.
Become a grassroots co-signer of the Social Security 2100 Act today to rally support for Social Security expansion in the U.S. House and pass this critical bill THIS YEAR!
 
With 211 co-sponsors, we are close to having majority support in the House of Representatives. If passed, the Social Security 2100 Act would be the most significant update to Social Security since 1983―increasing benefits for millions of Americans and strengthening the Social Security Trust Fund for decades to come.
 
Thank you for joining the EPI Policy Center and our allies in fighting to address the retirement security crisis and building an economy that works for everyone, not just the wealthy few.
 
In solidarity,
 
Thea Lee
President, EPI Policy Center
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