Regarding Portions of the 6/6/2024 Social Security Subcommittee Hearing on Trust Funds - U.S. House Committee on Ways and Means

We all know that Social Security is on a path to trust fund insolvency by 2035. The hearing points out that the Biden Administration’s new budget will make things worse. Nothing is being done right now to correct the situation. Ultimately if nothing is done, seniors will take approximately a 20% cut when the trust funds run out. Read here for more information on the hearing. If you want to listen to the recorded hearing, it is available here.

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. 

Notice: The link provided above connects readers to the full content of the posted article. The URL (internet address) for this link is valid on the posted date; cannot guarantee the duration of the link’s validity. Also, the opinions expressed in these postings are the viewpoints of the original source and are not explicitly endorsed by AMAC, Inc.; the AMAC Foundation, Inc.; or

What's Your Opinion?

We welcome your comments. Join the discussion and let your voice be heard. All fields are required

Website by Geiger Computers