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McCarthy tamps down concerns on entitlement spending & debt ceiling
Emily Brooks, writing in The Hill, follows up on the news of the week that the GOP might tie future spending on Medicare and Social Security to increases in the debt ceiling. But Minority Leader Kevin McCarthy, who is poised to be speaker in January, clarified, “I never mentioned Social Security or Medicare. Actually, in the ‘Commitment to America,’ we say to strengthen Social Security and Medicare.”
Brooks notes that Democrats have pointed to a model federal budget released by the Republican Study Committee. That is the largest conservative caucus in the House that includes the vast majority of the House Republican Conference,. The model plan would gradually raise the Social Security eligibility age and consider private retirement options. Full piece 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. Johnson (R-TX) and current Rep. 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.