Esty Joins Larson to Introduce Social Security 2100 Act
Washington, D.C. – Congresswoman Elizabeth Esty (CT-5) today joined with Congressman John Larson (CT-1) to introduce legislation to strengthen and expand Social Security.
The Social Security 2100 Act cuts taxes for Social Security recipients, provides a benefit bump for current and future beneficiaries, and ensures the system stays solvent through the next 75 years.
“In the state of Connecticut alone, there are more than 600,000 retired workers, disabled people, and families who depend on Social Security to pay their bills, including 135,000 in our congressional district” Esty said. “The Social Security 2100 Act is the plan we need to keep the program going strong – not only for today’s beneficiaries, but for our kids and grandkids. I’m proud to be taking on this mission with Congressman Larson. We could not ask for a more dedicated advocate for seniors or for the Social Security program, which keeps so many American seniors and families out of poverty.”
“Social Security is not an entitlement – it’s the insurance Americans have paid for to fund retirement, disability, and survivor benefits through a lifetime of work,” Larson said. “Seniors depend on Social Security and no one should be able retire into poverty. I am committed to taking common sense steps to expand benefits and to make the system solvent for the next 75 years and beyond. The Social Security 2100 Act, will do just that, without adding to the national debt. Social Security is the most successful program in American history, it is time to expand it for the future. This bill will secure your future, your family, and our nation.”
“Paralyzed Veterans of America (PVA) is pleased to support the Social Security 2100 Act. Representing veterans who benefit from this vital social insurance program in some way, we are keenly aware that our members, like millions of other Americans, rely on Social Security to afford them a secure retirement, protect their survivors and dependents, or enable them to manage living with a disability with dignity. The Social Security 2100 Act demonstrates that preserving and strengthening Social Security can be done without causing harm to beneficiaries,” said Carl Blake, Associate Executive Director, Paralyzed Veterans of America.
“The Social Security 2100 Act is not only for the people, it’s of the people. For years, beneficiaries have been telling us they are having a difficult time paying for basic needs like healthcare, housing and utilities. Most if not all of their income is from Social Security and while they are grateful to have it, an average of $1340 a month just isn’t enough. Retirees, the disabled and their surviving families desperately need a boost to their Social Security benefits. Congressman Larson’s bill smartly addresses that need while also extending the program’s long term solvency. We are pleased to endorse his bill and to commit the full weight of our millions of members and supporters towards getting this bill passed,” said Max Richtman, President and CEO, National Committee to Preserve Social Security and Medicare.
The Social Security 2100 Act provides:
• A tax cut for over 10 million Social Security recipients by raising the threshold on taxation of benefits;
• A benefit bump beginning in 2018 for current and new beneficiaries ($300 annually for the typical retiree);
• Protection for low income workers by raising the minimum benefit from below the poverty line to 25% above; and
• Long term protection against inflation for cost of living adjustments (COLA) by adopting the CPI-E formula.