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Congress Goes Home Leaving Social Security Administration Without a Director – Again
Let’s take quick stock of what this lame duck Congressional session has meant for middle-class Americans, especially seniors and their families: 1. Legislation that reversed 40 years of federal law protecting retirees’ pensions was tucked quietly into the massive spending bill. The change will allow benefit cuts for more than 1.5 million workers; many of them part of a shrinking middle-class workforce in businesses such as construction and trucking. 2. $42 billion in largely corporate tax breaks was passed without the “pay-fors” demanded by Congress for virtually every other spending provision. According to the Congressional Budget Office, if Congress keeps passing short-terms extensions every year or two, the tax breaks will cost $700 billion over the coming decade...Read More
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