A COVID-19-caused Social Safety catastrophe looms for individuals born in 1960—until Congress fixes it

The motion half is straightforward. Rep. John Larson, a Connecticut Democrat, has legislation to fix it, a invoice that has been hanging round since July. It is a chic repair that would not simply be certain the profit cuts do not occur this time round, however makes positive they cannot occur once more. It merely ensures that the Common Wage Index by no means drops beneath the earlier 12 months’s stage. That protects retirees from all main financial downturns.

With the 12 months winding down legislatively, Larson is pushing to have his fix included within the year-end spending invoice, together with a rise in advantages for Social Safety recipients. “Some say we will’t afford to guard and broaden Social Safety now, throughout a world pandemic,” he writes in an op-ed in The Hill. “Nonetheless, these most harmed by the pandemic—the aged, individuals of coloration, and particularly girls of coloration—are the identical ones who depend on Social Safety probably the most, and so they desperately want a brief emergency profit enhance.”

That is in anticipation of subsequent 12 months, when he guarantees to introduce a revised model of the Safety 2100 Act to broaden Social Safety and guarantee its solvency for not less than the following 75 years. That is a battle for subsequent 12 months. Proper now, it’s important that Congress makes positive all of the individuals unlucky sufficient to have been born in 1960 aren’t arbitrarily punished a second time—and for the entire of their retirements—by the pandemic.

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