Will there be Social Security reform in 2023? - Think Advisor

Social Security will be celebrating its 88th birthday on August 14, 2023. Like most 88-year-old systems, it needs some help. We are all aware the Social Security Trust fund will run dry in 2034, causing cuts to the benefits paid to over 70 million recipients. There are at least eight reform proposals in Congress to strengthen and reform the Social Security program for the current and future generations. John Manganaro interviews Martha Shedden, the president and co-founder of the National Associations of Registered Social Security Analysts, on her hopes and concerns for Social Security in 2023 and beyond. Read Mr. Manganaro’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. 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.

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Comments On This Topic

  1. Did should be raised to 1200.00 a month asap. People are going homeless every day because they don’t get enough money for rent NO one in the USA should ever have to be without a home or food

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