Restoring Social Security to Long Term Solvency
It seems that with every new Congress comes a crop of proposed legislation ostensibly meant to reform Social Security and improve its financial status (or, depending on your view, intended to pander to American seniors). Such is the case in the current 117th Congress with introduction earlier this year of H.R. 82 (The Social Security Fairness Act of 2021) and, more recently, H.R. 5737 (Social Security for Future Generations Act of 2021). Both of these proposed bills are compared in this MarketWatch article by Alicia Munnell. While it’s clear from the analysis that the later bill has some attractive features and would slightly improve Social Security’s short-term finances, it’s also clear that it falls woefully short of being a long-term solution. It is nevertheless important to continue the dialogue on the need to restore Social Security to long solvency, and this article is a part of that discussion.
AMAC has been at the forefront trying to strengthen Social Security by developing and proposing its Social Security Guarantee. AMAC has been discussing and continues to discuss this common-sense solution with Congressional Representatives in its efforts to protect America’s senior citizens who rely on Social Security. To review AMAC’s Social Security Guarantee, click here.