Lummis Bill Helps Close Social Security Gap

Statement

Today U.S. Representative Cynthia Lummis (R-WY) was joined by Rep. Doug LaMalfa (R-CA) to re-introduce H.R. 1366: Alex's Law. This bill, named for a child of one of Rep. Lummis' staffers, would raise the retirement age for today's eight year olds from 67 to 70. This gradual, long-term change could close approximately one-fourth of the Social Security budget gap without affecting anyone currently in or closely approaching retirement.

"With all the advances in medicine and technology, people are on average living much longer, which means their retirements are also getting longer," said Rep. Lummis. "This is very good news for retiring Americans, but for those still contributing to social security this means insolvency and drastic cuts to benefits for future retirees. We owe it to today's workers who contribute to this program to guarantee continuing benefits but under the current status quo that guarantee is imperiled in just a few short decades. The modest change I've proposed reflects the natural changes in life expectancy of our workforce over the coming years and doesn't affect anyone in or close to retirement. The scare tactics on social security reform need to stop and the adult conversation needs to start. Common sense demands that we start with the retirement age as we work to make social security solvent again."

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