ADVISORY: GOP Meeting: Democrats’ Partisan Approach to Social Security Hurts Current and Future Workers
Ways and Means Republican Leader Rep. Kevin Brady (R-TX) and top Republican for the Social Security Subcommittee Republican Leader Rep. David Schweikert (R-AZ) will hold a roundtable titled “Democrats’ Social Security Expansion Fails Generations of Working and Retired Americans” on Wednesday, June 29, at 12:00 PM ET.
- The Honorable Charles Blahous, Ph.D., J. Fish and Lillian F. Smith Chair and Senior Research Strategist, Mercatus Center at George Mason University
- Holly Wade, Executive Director, National Federation of Independent Business (NFIB) Research Center
THEMES FOR MEETING
Instead of protecting Social Security for current and future generations, Democrats and the Biden Administration are proposing permanent tax increases that will hurt current and future workers, and keep Social Security on the path to an unsustainable financial future.
- More than 65 million of America’s seniors and most vulnerable rely on Social Security and that number will only continue to grow.
- However, the Social Security’s Old-Age and Survivors Insurance Trust Fund, which has about $2.8 trillion in assets that were built up by more than 30 years of surpluses, is on pace to become depleted by 2034, and its Disability Insurance Trust Fund reserves are less than the program’s annual costs.
- Rather than put these programs on a sustainable path, Democrats’ tax and expand solutions would only increase cost growth and make things harder on current and future workers.
This meeting will take place remotely via Cisco WebEx video conferencing.
Members of the public may view the meeting via live webcast available on the Ways and Means Committee Republicans YouTube page HERE.