John,

I had the honor of testifying before the full Ways & Means Committee in the House of Representatives this morning, and I wanted to share with you what I told them. You can watch my five minute testimony here, or read the transcript below.

Social Security Works and our members have led the fight to protect and expand Social Security―and now we’re close to the first expansion of Social Security since the Nixon Administration.

Chip in today to pass the Social Security 2100 Act this year and expand Social Security for millions of Americans.

FULL TRANSCRIPT:

Chairman Neal, Ranking Member Brady, and Members of the Committee:

In addition to cash benefits, Social Security is intended to provide, as its name suggests, a sense of security, peace of mind.

That invaluable benefit has been lost because too many Americans have been convinced that Social Security will not be there for them.

Passage of the Social Security 2100 Act is an important step to restoring that peace of mind.

As important as it is to balance income and outgo, though, it is imperative to remember that that is merely a means to an end. The end – the goal is to provide America’s working families with economic security. Importantly, the Social Security 2100 Act restores Social Security to balance without cutting benefits and, as important, expanding them.

Social Security’s benefits are modest, but vitally important to nearly all of its 63 million beneficiaries and those benefits will be even more important in the future. The nation is facing a retirement income crisis.

Given that Social Security is more universal, efficient, secure, and fair than its private sector counterparts and that it can be expanded immediately, with no start-up costs, increasing its benefits across the board, as the 2100 Act does, is the best solution to that crisis.

It also is a solution to the squeeze on working families and income and wealth inequality.

Some argue that, if benefits are increased, they should only go to those at or near poverty.

But this focus on need reveals a fundamental misunderstanding of what Social Security is. Social Security is part of workers’ compensation.

The nation already has a needs-based program for seniors and people with disabilities. In addition to passing the 2100 Act, I urge you to expand SSI to assist the poorest among us.

Expanding Social Security will strengthen the economy, particularly in rural communities. On the last page of my written statement is a chart showing Social Security’s importance to each of your Congressional districts.

The 2100 Act is not only wise policy, it is also what the American people want. As polarized as the nation is, it is not polarized about Social Security.

Support for the provisions of the 2100 Act is overwhelming, according to numerous polls. Large majorities of Republicans, Independents, and Democrats, Tea Partiers and union members, all ages, genders, income levels, races, and ethnicities support expansion and oppose cuts.

They support requiring the top earners to pay more, and also are willing to pay more themselves.

It is noteworthy that the rate increase in the Social Security 2100 Act is substantially more modest than every single past annual increase – just five hundredths of a percent or 50 cents a week for a worker earning $50,000. The overall increase, phased in over almost a quarter of a century, 24 years, is smaller than every other 24 year increase, up until 1990, the last time the rate was increased at all.

The Social Security 2100 Act includes provisions that should be attractive to conservatives, including a tax cut.

Some seem to believe, though, that to be a consensus package, there have to be benefit cuts, as there were in 1983. The late Robert M. Ball, who represented Speaker O’Neill in his negotiation with President Reagan, was concerned that policymakers would take that wrong lesson from the 1983 experience.

Just months before his death in 2008, he wrote, “What was right in 1983 -- a balanced package of benefit cuts and tax increases…would be wrong today.” He said, “It's the essence of responsibility, in my view, to insist on no benefit cuts.”

I am confident that if Bob Ball were alive today, he would urge passage of the Social Security 2100 Act. Thank you.

Together, we can expand Social Security. Please, pitch in what you can to keep this movement strong!

Thank you,

Nancy Altman
President
Social Security Works