Commission on Long Term Social Security Solvency Proposed in New Bill - wibw.com
Wibw.com Digital Producer Sarah Motter, in a post on their website, takes a look at H.R. 6581 introduced by Rep. Tom Cole (OK-04) and co-sponsored by Rep. Jake Laturner (KS-2). The bill, introduced earlier this month, calls for a 13-member commission, the Commission on Long Term Social Security Solvency, charged with reporting to Congress within one year of its first meeting and delivering an assessment of Social Security’s 75-year health and recommendations to ensure that Social Security is fully funded for decades to come.
In introducing the bill, Rep. Cole stressed that “Unfortunately, Social Security is in grave danger and without immediate changes that modernize the current system, it will not be able to pay the benefits that hardworking Americans have rightfully earned. Rather than risk breaking the promise made to generations who have paid or will pay into the system, I am pleased to reintroduce legislation that would result in commonsense solutions for saving Social Security for future generations of retirees.”
As explained by Rep. Cole, the proposed legislation calls for:
- A 13-member commission, the Commission on Long Term Social Security Solvency, with 12 members appointed by leadership from both parties in the House and Senate (three appointees from each party’s leader in each chamber). Two of the congressional appointees must be non-elected experts.
- The commission is chaired by the 13th appointee, named by the president. The president’s appointee means that the president’s party would appoint seven members, the other party appointing six.
- Within one year of its first meeting, the commission must report to Congress on the 75-year health of Social Security and provide recommendations for how to improve the program.
- The commission’s report must have a minimum of nine votes, guaranteeing bipartisan consensus.
- The legislation based on the commission’s plan would then receive expedited consideration in Congress for an up or down vote.
Bill text is available here.
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