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Insider’s Report: Republicans Say They’re Not Going to Touch Your Benefits

COLA

As debt ceiling negotiations get underway, we’re starting to hear a lot of talk from so-called “fiscal hawks” in Congress about wanting to “save” and “protect” Social Security. But these lawmakers are pretty cagey. In fact, they never come right out and say they’re going to “cut” benefits, but that’s exactly what most of their proposals would do.

So can we really believe Speaker of the House Kevin McCarthy when he says Social Security and Medicare should be “completely off the table” in debt ceiling negotiations?

The fact is actions speak louder than words. And the policies that are being promoted by many in the GOP would do the exact opposite of protecting your earned benefits. Because remember, the only way to achieve their austerity goals (without raising revenue) is by gutting Social Security and Medicare.

Fiscal hawks make their proposals sound like technical or procedural changes. But raising the retirement age to 70 is a benefit cut. Means testing Social Security is a benefit cut. Raising the Medicare eligibility age to 67 is a benefit cut.

And creating so-called “commissions” or making budget process changes that would result in benefit cuts would help obscure who is responsible for taking away earned benefits.

The Republican Study Committee (RSC), which includes nearly three-fourths of the House GOP, has released a budget plan that calls for increasing the Medicare eligibility age, setting up a special fast-track procedure to ram through cuts to Social Security, implementing the "chained" Consumer Price Index which would slash the COLAs for current retirees and raising the retirement age to 70.

These are not rational solutions to strengthen the program for beneficiaries. These are proposals aimed at destroying seniors’ retirement security.

These policies are nothing new, but the politicians pushing them in Congress now have unprecedented power to force votes on their harmful proposals.

 
 
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February Is Black History Month
 

As we celebrate Black History Month and pay tribute to generations of African Americans who have struggled with adversity all their lives, it’s the perfect time to highlight how important Social Security is to the African American community.

Social Security’s guaranteed insurance benefits are especially crucial to people of color who tend to have fewer alternative resources, become disabled at higher rates and disproportionately rely on Social Security’s family benefit features. Black American workers more than most other Americans are concentrated in low-wage jobs that typically lack pension coverage, experience higher poverty and unemployment rates, and have less ability to save and invest for retirement. Social Security, therefore, provides many elderly Black Americans with their sole or primary source of income in retirement. Consequently, preserving and strengthening the current system with its guaranteed benefits is crucial for Black Americans.

 
 
 
 
Good Bills
 

The National Committee endorses the “Social Security Expansion Act” introduced by Senator Bernie Sanders (VT). This bill places Social Security on a sound financial footing for more than 75 years while making important program improvements, including giving an across-the-board increase to all beneficiaries, improving the COLA formula to more accurately reflect the goods and services purchased by seniors, and providing an increase in the special minimum benefit which is critical to reducing the poverty rate among those aged 65 and older.

These adjustments will enable Social Security to meet more fully the needs of America’s most vulnerable populations.

 
 
 
Ask Us
 

Whether you’re retired or approaching retirement, our team of experts in the field of Social Security policy is available to answer your questions about benefits.

You can either search our archives for valuable advice on a broad range of concerns or submit your question here.

This week's question is: My niece’s husband, 24, died 10 days ago leaving his wife and two daughters ages 5 and 2. He had a regular job. Are there any possible Social Security benefits available for the daughters?

Click here to read the answer.

 
 
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At this point in the debt ceiling negotiations, how confident are you that Republicans, Democrats and Independents will come together and either raise or suspend the debt limt without making severe cuts to Social Security and Medicare?

Take our poll now!

 
 
 
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Social Security, Medicare should be ‘off the table’ in debt ceiling talks, McCarthy says
 

NCPSSM Director of Government Relations & Policy Dan Adcock said he is skeptical of House Speaker Kevin McCarthy’s comments calling for strengthening Social Security and Medicare. “Having to go through 15 ballots to be elected speaker, he doesn’t exactly have great control over his caucus,” Adcock said. (January 30, 2023, CNBC, Lorie Konish)

Read More

Why do conservatives keep trying to undermine SS & Medicare
 

NCPSSM Director of Government Relations & Policy Dan Adcock talks to host Kris Welch about renewed threats to seniors' earned benefits from Congressional Republicans. (January 26, 2023, KPFA, Radio interview with the National Committee’s Director of Government Relations & Policy Dan Adcock)

Listen Here

 
 
 
Column: The stupid and dishonest idea of raising the Social Security retirement age is back
 

The people who are in the forefront of pushing Social Security “reform” by cutting benefits have gotten pretty good at hiding their intentions behind plausible-sounding jargon and economists’ gibberish. (February 2, 2023, Los Angeles Times, Michael Hiltzik)

Read More

 
 
 
Why it’s so hard for Black Americans to save for retirement — and how the pandemic escalated the racial wealth gap
 

Wage disparities, lower rates of homeownership and other factors are making it harder for people of color to save for their post-working lives. (February 2, 2023, Market Watch, Alessandra Malito)

Read More

 
 
 
 
 
 
 
 
 
 
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