Pres. Biden hasn’t given many specifics about how he would boost Social Security so it stays solvent. Cong. Lauren Underwood says it has to be preserved and she believes Biden’s plan will. She says it’s a debate about our values.
The Congressional Budget Office says the Social Security trust fund will be out of extra money in nine years. Taking in less than what it’s supposed to pay, everyone on it will get less—unless Congress does something.
Pres. Biden’s budget proposal would put $1.4 billion more into Social Security for staff and customer service but not for payments to recipients. He has vowed not to raise taxes for anyone making less than $400,000 per year. And raising the retirement age isn’t popular.
Some Republicans have suggested no more debt ceiling increases until Social Security and Medicare are boosted. Republican leaders say they’re not bringing those programs into the negotiations.