Keeping the Social Security trust fund solvent will require bipartisan support - The Motley Fool
Many Americans are aware of the Social Security trust fund solvency issue; however, with the recent political tension, the uncertainty of a solution remains. A recent survey from the University of Maryland found individuals who identify as Republicans or Democrats support changes to the Social Security program that would eliminate 95 percent of the trust fund shortfall over the next 75 years. What are these changes? Trevor Jennewine reports on the four changes to the Social Security program that has bipartisan support from the voters. Read Mr. Jennewine’s article here…
The Association of Mature American Citizens (AMAC) believes Social Security must be preserved and modernized. This can be achieved with no tax increases by changing cost of living adjustments, the retirement age, and delayed credits. AMAC advocates for a bipartisan compromise, “The Social Security Guarantee Act,” taking selected portions of bills introduced by former Rep. Sam Johnson (R-TX) and current Rep. John Larson (D-CT) and merging them with the Association’s own research. One component is Social Security PLUS, a voluntary plan to allow all earners to have more income 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. Read AMAC’s plan here.