“Social Security plays a critical role in our economy as it
provides for over two-thirds of our nation’s retirees, and provides financial
security to millions of disabled workers and their children,” said Lawson.
“However, as the program is currently operating, the Social
Security trust fund will be depleted by 2034. That’s why I’m proud to introduce
the Social Security for Future Generations Act of 2017, along with 17
co-sponsors and support from six organizations, including Social Security Works
and the National Committee to Preserve Social Security & Medicare.”
- Extending student benefits to age 22
- Creating a sustainable benefit for individuals who lose a spouse or loved one
- Providing an across the board benefit increase through cost-of-living adjustment
- Applying payroll tax on wages above $250,000
- Establishing a special minimum benefit for long-term low-wage workers
“We are in a unique position to make targeted benefit
increases to vulnerable beneficiaries and extend the trust fund solvency so
that future generations are able to benefit from social insurance and
retirement in a way that is equitable and sustainable,” Lawson continued. “I
call on my colleagues in the House to join me in increasing benefits and
extending the life of one of our nation’s most sacred commitments.”
Co-sponsors of the bill include Reps. Alma Adams, Lisa Blunt
Rochester, Brendan Boyle, Tony Cardenas, Steve Cohen, John Conyers, Adriano
Espaillat, Dwight Evans, Alcee Hastings, Eleanor Holmes Norton, Marcy Kaptur,
Robin Kelly, Barbara Lee, James McGovern, Donald McEachin, Nydia Velazquez, and
Frederica Wilson.
Organizations supporting the bill include Social Security
Works, the National Committee to Preserve Social Security & Medicare,
Alliance for Retired Americans, Justice in Aging, The Arc of the United States,
and the Latinos for a Secure Retirement.
You can read the full text of the bill here.