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Trump proposes Disability reform for 4th time
Sean Williams goes back through all of President Trump’s budget proposals and notes he has tried to reform the Social Security Disability program (SSDI) in each one. The president focus has been on perceived inefficiencies with SSDI. A sizable chunk of the savings are expected to be derived from limiting retroactive SSDI pay to six months from the current 12 months that approved long-term disabled workers are allowed to collect. Trump’s fiscal 2020 budget contained proposals that would reduce Social Security payouts by $26 billion over the next decade again by leaning on the idea of reducing retroactive pay for disabled workers to six months from 12 as a core money-saving tactic. In the current fiscal 2021 budget proposal released earlier this month, Trump called for $24 billion in Social Security cuts over the next 10 years. Williams suggests little will happen in an election year and advocates for a bipartisan approach to fix the Disability and the retirement portion of Social Security’s long term financial problems. Full piece here.
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized by making modest changes in cost of living adjustments and the retirement age, with no additional taxes on workers. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Johnson (R-TX) and current Rep. Larson (D-CT) and merging them with the Association’s own well researched ideas. One component is Social Security PLUS, a new, voluntary plan that would allow all earners to have more income available at retirement. This component is intended to appeal especially to younger workers. AMAC is resolute in its mission that Social Security be preserved and modernized and has gotten the attention of lawmakers in DC, meeting with a great many congressional offices and their staffs over the past several years. See AMAC’s plan here.