Representatives Kaptur, Larson Introduce Landmark Social Security Proposal
Washington, D.C. – Today, Congresswoman Marcy Kaptur (OH-9), the longest serving woman in Congress and senior member of the House Appropriations Committee, joined the Chairman of the Ways & Means Social Security Subcommittee, John B. Larson (CT-01), in introducing H.R. 860, the Social Security 2100 Act, a bill that increases Social Security’s vital benefits while making the system financially strong throughout the 21st century. The legislation was introduced with 203 cosponsors.
“Social Security is the bedrock earned benefit that underpins retirement security in this country,” said Rep. Kaptur. “It is a benefit that workers have earned, and paid for, with every paycheck. With the Social Security 2100 Act, we can improve benefits for millions of Americans while preserving Social Security for generations to come. I thank Congressman Larson for his leadership on this very important issue.”
“Social Security is not an entitlement – it’s the insurance Americans have paid for through a lifetime of work to fund retirement, disability, and survivor benefits,” said Rep. Larson. “The Social Security 2100 Act takes common sense steps to increase benefits and to make the system financially secure for the next 75 years and beyond. Social Security is the most successful program in American history, it is time to improve it for the future.”
The Social Security 2100 Act, H.R. 860 provides the following:
- An across-the-board benefit increase for current and new beneficiaries
- An improved cost-of-living adjustment (COLA) that takes into account the true costs incurred by seniors
- A stronger minimum benefit, so someone who works their whole life does not retire into poverty
- A tax cut for over 12 million Social Security recipients by eliminating the tax on their benefits
Social Security is the most important source of retirement income for 4 out of 5 seniors. It also provides protections to disabled workers and families who have lost a breadwinner. With common sense steps like those in the Social Security 2100 Act, Congress can improve benefits while ensuring Social Security remains strong throughout the century. There are currently 203 cosponsors of the Social Security 2100 Act.