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Jack Reed on Social SecurityDemocratic Sr Senator (RI) |
A: I believe Congress must address the benefit levels of individuals born between 1917 and 1926, and I appreciate the urgency of this issue for members of this age group. One of the major issues facing the nation is ensuring that Social Security can meet its obligations to beneficiaries in light of fiscal pressures that the system will face as the baby boom generation retires. As we continue to consider solutions to ensure the long-term solvency of Social Security, it is my hope that Congress will address the Social Security Notch and recognize the plight of those individuals born between 1917 and 1926.
A: I understand how difficult it can be for many Social Security beneficiaries living on fixed incomes, particularly with the rising cost of housing and energy prices as well as skyrocketing health care and prescription drug costs. As such, I have cosponsored the Social Security COLA Protection Act to protect the standard of living of Social Security beneficiaries from dramatically rising Medicare premiums. This legislation will ensure that no more than 25% of a retiree's annual COLA is taken away by increases in Medicare premiums. Although Social Security faces many financial challenges, for over 70 years, Social Security has provided a dependable and predictable stream of income--and I will continue my work to ensure that remains the case.
A: I remain committed to ensuring the solvency of Social Security, now and for the future. We must encourage more personal savings for retirement, but stand-alone private accounts that divert money from Social Security would do nothing to improve the program's long-term solvency. I have fought efforts to privatize Social Security, and I will continue the fight to ensure the federal government honors our promise to those who have paid into the system.
The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security. The Alliance believes that all older and retired persons have a responsibility to strive to create a society that incorporates these goals and rights and that retirement provides them with opportunities to pursue new and expanded activities with their unions, civic organizations and their communities.
The following ratings are based on the votes the organization considered most important; the numbers reflect the percentage of time the representative voted the organization`s preferred position.
CONCURRENT RESOLUTION expressing the sense of the Congress that the Chained Consumer Price Index (CPI) should not be used to adjust Social Security benefits.
Opponent`s argument against bill:(Congressional Testimony by Jeffrey Kling, Congressional Budget Office Associate Director for Economic Analysis, April 18, 2013):
The chained CPI grows more slowly than the traditional CPI does: an average of about 0.25 percentage points more slowly per year over the past decade. As a result, using that measure to index benefit programs would reduce federal spending for Social Security, federal employees’ pensions, Medicare, Medicaid, and various other programs. For example, if such a proposal took effect next year, Social Security benefits would be roughly $30 a month lower, on average, by 2023 than they would be under current law, representing a reduction of about 2 percent of average benefits. In addition, indexing tax provisions with the chained CPI would increase revenues.
Scoring system for 2014: Ranges from 0% (supports privatization and other market-based reforms) to 100% (supports keeping federal control over Trust Fund and Social Security system).
About ARA (from their website, www.RetiredAmericans.org):
The Alliance for Retired Americans is a nationwide organization, founded in May 2001, with now over 4.2 million members working together to make their voices heard in the laws, policies, politics, and institutions that shape our lives. The mission of the Alliance for Retired Americans is to ensure social and economic justice and full civil rights for all citizens so that they may enjoy lives of dignity, personal and family fulfillment and security.