REPS. THOMPSON, HUFFMAN DISCUSS LEGISLATION TO IMPROVE AND PROTECT SOCIAL SECURITY WITH SONOMA SENIORS
Washington, D.C. – U.S. Reps. Mike Thompson (CA-5) and Jared Huffman (CA-2) today hosted U.S. Rep. John Larson (D-CT) for a town hall meeting in Santa Rosa to discuss the Social Security 2100 Act (H.R. 1391), legislation that if enacted would provide a benefit bump for current and future beneficiaries, cut taxes for Social Security recipients, and keep the system strong for generations to come.
“I’m committed to keeping Social Security strong for generations,” said Rep. Thompson. “That’s why I’m a proud coauthor of the Social Security 2100 Act, which not only improves benefits for today’s seniors, but ensures that the promise of Social Security will remain strong for our children and grandchildren. Many thanks to my colleague John Larson from Connecticut for flying out to Santa Rosa to meet with our seniors and share more about this important legislation.”
“Our seniors work hard their entire lives to pay into social security, and rightfully rely on it when they retire,” said Rep. Huffman. “Our government must hold up their end of the bargain, and ensure our seniors receive the support that they not only need, but earned. That’s why I am co-sponsoring Rep. Larson’s bill, which offers a sensible, real world solution to make certain that all Americans are provided with this vital social safety net.”
"Social Security is a lifeline for millions, with two-thirds of retirees relying on their benefits for most of their income. That's why I introduced the Social Security 2100 Act to increase benefits, cut taxes, and keep Social Security solvent for generations. I commend Reps. Mike Thompson and Jared Huffman for their commitment to ensuring that hard working Americans who pay into the system get the benefits that they’ve earned,” said Rep. Larson.
Reps. Thompson and Huffman are coauthors of the Social Security 2100 Act, which was introduced in the House of Representatives by Rep. Larson.
The Social Security 2100 Act provides the following:
- Tax cut for over 11 million Social Security recipients by raising the threshold on taxation of benefits
- Benefit bump beginning in 2016 for current and new beneficiaries
- Protection for low-income workers by raising the minimum benefit
- Long term protection against inflation for cost of living adjustments (COLA) by adopting the CPI-E formula
- Extends the solvency of the program by extending the Social Security payroll tax to wages over $400,000. Currently, the Social Security payroll tax only applies to wages up to $118,500.
In Sonoma County alone, Social Security distributes benefits amounting to about $1.1 billion each year. With common sense steps like those in the Social Security 2100 Act, Congress can boost this vital program now and ensure Social Security remains strong well into the future. In fact, the Social Security Administration’s Chief Actuary issued a report verifying that the Social Security 2100 Act would keep the program solvent beyond the next seventy-five years.
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