Friday, December 16, 2016

Republicans introduce Social Security reform bill with modest means testing

Republicans are considering a Social Security reform bill that raises the retirement age to 69, and gradually means tests benefits, especially for some spouses and dependents, apparently even for some current retirees.  But the means testing is “mild”:  it would eliminate COLA increases for singles earning over $85000 and couples over $170000 a year.

Criticism says that it places the burden of funding on the poor and middle class (often unaware of the actuarial  math when voting for Trump).

The bill was introduced by Rep. Sam Johnson (R-TX).

It’s called the “Social Security Reform Act of 2016”, Johnson’s link . It is supposed to add 75 years of sovereignty to the Social Security Trust find.

The story by Sarah MacManus appeared in Bipartisan Report.

No comments: