Democrats’ plan won’t save Social Security, Congress budgeters says
A fresh nonpartisan report casts doubt on a plan backed by Sen. Sherrod Brown that is designed to both preserve Social Security and expand its benefits for some by raising payroll taxes on the wealthy. The report by the Congressional Budget Office concludes that to make the Social Security system solvent for the next 75 years, payroll taxes would have to be raised on all working Americans who pay Social Security taxes. The findings appear to dampen hopes among Senate Democrats who want to increase monthly benefits by $70 for many Social Security beneficiaries while requiring higher payroll taxes on wealthier people…Read More
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