Tonko, Larsen Introduce Landmark Social Security 2100 Proposal
Today, Congressman Paul Tonko joined with Chairman of the Ways & Means Social Security Subcommittee John B. Larson (CT-01) to introduce The Social Security 2100 Act, a bill that increases Social Security benefits while extending the financial footing of this critical safety net support through the year 2100.
"Social Security is an important pillar of support for millions of Americans who have earned its benefits through a lifetime of work," said Tonko. "This critical safety net program has protected the financial security and personal dignity of millions of America's retirees, individuals with disabilities, and countless others for generations. Our legislation provides the opportunity to strengthen its benefits and put Social Security on the strongest possible footing for generations to come."
Bill sponsor Rep. Larson added, "Social Security is not an entitlement -- it's the insurance Americans have paid for through a lifetime of work to fund retirement, disability, and survivor benefits. The Social Security 2100 Act takes common sense steps to increase benefits and to make the system financially secure for the next 75 years and beyond. Social Security is the most successful program in American history, it is time to improve it for the future."
The Social Security 2100 Act provides the following:
An across-the-board benefit increase for current and new beneficiaries
An improved cost-of-living adjustment (COLA) that takes into account the true costs incurred by seniors
A stronger minimum benefit, so someone who works their whole life does not retire into poverty
A tax cut for over 12 million Social Security recipients by eliminating the tax on their benefits
This landmark bill has been endorsed by: Social Security Works * National Committee to Preserve Social Security and Medicare * AFL-CIO * Paralyzed Veterans of America (PVA) * The Arc of the United States * American Federation of Government Employees (AFGE) * International Federation of Professional & Technical Engineers o (Representing the Social Security Administrative Law Judges) * Consortium for Citizens with Disabilities Social Security Task Force * Justice in Aging * Association of University Centers on Disabilities (AUCD) * Senior Citizens League.