Bi-Partisan “Save Our Seniors” said to protect Social Security

A bi-partisan trio of U.S. Senators have collaborated to introduce the “Save Our Seniors Act,” intended to keep Social Security’s true financial status front and center in Congress. Companion legislation has also been introduced in the House of Representatives. Fact is, Social Security is facing a serious financial issue which, if not resolved, will result in an across-the-board 23% cut in everyone’s benefit in less than10 years.

Congress has known about this issue for many years, but thus far neglected to enact the reform needed to restore Social Security to fiscal solvency. According to the bill’s authors, time to fix Social Security is running out, so Congress needs to stay focused on reform – a goal which the bill’s authors say will be achieved if the bill is enacted. All of this is described in this press release by Bill Cassidy (R-LA). Click here to read more.

As an example of the leading thoughts on reforming Social Security, the Association of Mature American Citizens (AMAC, Inc.) believes Social Security must be preserved and modernized.  This can be achieved without tax increases by slight modifications to cost of living adjustments and payments to high income beneficiaries plus gradually increasing the full (but not early) retirement age.  AMAC Action, AMAC’s advocacy arm, supports raising the thresholds at which benefits are taxed and then indexing for inflation, and calls for eliminating the reduction in people’s benefits for those choosing to work before full retirement age.  AMAC is resolute in its mission that Social Security be preserved for current and successive generations and has gotten the attention of lawmakers in D.C., meeting with many congressional offices and staff over the past decade. 

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