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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsThe Social Security 2100 Act Expands Benefits
Republicans are trying to eliminate it. Democrats are trying to strengthen it for the next century. The next person who say both parties are the same will get a big, hearty, FU from me.
Benefit bump for current and new beneficiaries Provides an increase for all beneficiaries that is the equivalent of 2% of the average benefit. The United States faces a retirement crisis and a modest boost in Social Security benefits strengthens the one leg of the retirement system that that is universal and the most reliable. [Sec. 101]
Protection against inflation Improves the annual cost of living adjustment (COLA) formula to better reflect the costs incurred by seniors through adopting a CPI-E formula. This provision will help seniors who spend a greater portion of their income on health care and other necessities. Improved inflation protection will especially help older retirees and widows who are more likely to rely on Social Security benefits as they age. [Sec. 102]
Protect low income workers No one who paid into the system over a lifetime should retire into poverty. The new minimum benefit will be set at 25% above the poverty line and would be tied to wage levels to ensure that the minimum benefit does not fall behind. [Sec. 103]
Cut taxes for beneficiaries Over 12 million Social Security recipients would see a tax cut[ii]. Presently, your Social Security benefits are taxed if you have non-Social Security income exceeding $25,000 for an individual or $32,000 for couples. This would raise that threshold to $50,000 and $100,000 respectively. [Sec. 104]
The bill:
https://larson.house.gov/sites/larson.house.gov/files/LARSON_050_xml.pdf
Holding SSI, Medicaid, and CHIP Beneficiaries Harmless Ensures that any increase in benefits from the bill do not result in a reduction in SSI benefits or loss of eligibility for Medicaid or CHIP. [Sec. 105]
vsrazdem
(2,177 posts)Social Security, will never vote for this one.
SleeplessinSoCal
(9,082 posts)UniteFightBack
(8,231 posts)cstanleytech
(26,236 posts)After all if that was covered for everyone that would be a huge savings.
UniteFightBack
(8,231 posts)cstanleytech
(26,236 posts)NBachers
(17,081 posts)Fortunately, I'm still healthy enough to keep working. I'm not really sure when I'll be able to quit.
JustABozoOnThisBus
(23,321 posts)I started SS when I turned 70, and it's helping to make retirement enjoyable.
mercuryblues
(14,522 posts)the limit you can earn before they cut your benefits.
ThingsGottaChange
(1,200 posts)They went away with the stroke. When would this happen, if it does? Is that what the 2100 means? I'll be long gone by then. Yes, good for others, though.
rickyhall
(4,889 posts)Trump's tax cut was for Trump first, then the rest the criminal party & their psychopathic supporters & to pay for it they want to take the money I paid in for nearly 50 years of work. Fuck those bastards, there is NO comparison.
littlemissmartypants
(22,578 posts)Thanks for the post, mercuryblues.