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State senator says Minnesota must prepare for ‘age wave’; Eken proposes extending Social Security tax on high earners
Minnesotans are getting older, and the cost of caring for seniors and the disabled is going to rise fast. The state needs to act now to get ahead of the coming “age wave” by providing a stable funding source to pay for care, said state Sen. Kent Eken, DFL-Twin Valley. He proposes to pay for the increase by extending the Social Security payroll tax beyond the income limit of $117,000. The state would reap the additional tax for a Minnesota Social Security fund to pay for senior care and the disabled. “The longer we wait, the worse it’s going to get,” he said….Read More
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