Standing in the way of poverty [link removed] DearJohn,
Social Security is our nation's most important and effective income security program for American workers, retirees and their families. And it is even more central to the economic security of African-Americans. [link removed]
That's because gross disparities in retirement income exist between whites and communities of color. There are many reasons why it's harder for African-Americans to build retirement income. Too many African-Americans are concentrated in lower-wage jobs that lack pensions or retirement plans of any kind. And black workers face ongoing job discrimination and higher unemployment rates than whites (a trend that continues during the COVID pandemic), making it difficult to save or invest for retirement.
Social Security is often the only thing keeping African-American retirees out of poverty. Were it not for Social Security, black households would have only 16% of the retirement assets of white households. This is why any attempt to weaken or cut Social Security would hurt senior African-Americans the most. [link removed]
With the backing of our million+ members and supporters, the National Committee is working to ensure that harmful proposals now targeting Social Security, including President Trump's dangerous payroll tax cut, which would starve revenue flowing into the program, are defeated in Congress. At the same time, we're fighting to stop the creation of a so-called "Rescue Committee" for Social Security proposed by Senator Mitt Romney (UT), which would set up a fast track process that would likely lead to recommendations for severe benefit cuts.
Instead of slashing benefits, the National Committee is putting pressure on our elected officials to pass legislation that would strengthen Social Security for current and future beneficiaries. Maintaining the adequacy of Social Security by improving it to better meet the needs of America's seniors, especially communities of color, is essential. And we support a number of improvements to boost Social Security, including the passage of U.S. Representative John Larson's (CT-01) "Social Security 2100 Act" (H.R. 860), [link removed] which would boost benefits, improve the COLA formula, increase the special minimum benefit for individuals who work for many years in lower-wage employment and strengthen Social Security's long-term solvency by requiring millionaires to pay their fair share into the program.
Social Security is already a lifeline for millions of African-American retirees. As communities of color fight for social and economic justice, Social Security can play an even more crucial role moving forward — if our elected leaders have the conviction to strengthen and expand the program that keeps millions of our most vulnerable citizens out of poverty. You can count on the National Committee to continue to represent your voice — and that of all workers and retirees — as we fight for your earned benefits in Washington, DC!
Sincerely, Max Richtman
President & CEO [link removed] [link removed] [link removed] Member contributions to the National Committee, a nonprofit 501(c)(4)
organization, are not tax-deductible.
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