PHASING OUT SOCIAL SECURITY AND MIDDLE-CLASS TAX CUTS HURTS AMERICANS DURING INFLATION

During today's Ways and Means Committee hearing on the proposed FY23 budget with Treasury Secretary Janet Yellen, Rep. John B. Larson (CT-01) highlighted how programs like the Affordable Care Act, Child Tax Credit, Social Security, and Medicare help American families, especially during times of inflation.

"This comes at a time internationally that we haven't seen before with the COVID pandemic and aftermath of Russia's invasion of Ukraine, which have placed incredible outside forces on our economy and are certainly contributing to inflation," said Larson. "Yet on the other side, Senator Scott has proposed we sunset both Medicare and Social Security, which is hard to believe during this time of inflation. [Republicans say,] "We're not going to come up with any solutions. If you want to know our plan, we'll talk to you after we're elected.' Now that's not a plan, from my perspective."

The President's proposed budget would extend Affordable Care Act Tax Credits that lowered health care premiums originally passed through the American Rescue Plan, which Rep. Larson fought for. He has also introduced Social Security 2100: A Sacred Trust, a bill to enhance benefits and make them more resilient to inflation.

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