Dear Friends,
From housing to health care, the COVID-19 pandemic has made a host of existing problems much worse. What so many people don’t realize is that the very future and vitality of Social Security has also been seriously impacted by this crisis, and unless Congress acts, it’s likely that beneficiaries will see a 20 percent benefit cut starting in 2034.
We all deserve to retire with dignity, free from the fear of having to decide between buying groceries and filling a prescription or paying rent and visiting a loved one. For the past 86 years, Social Security has helped millions of seniors avoid making those kinds of impossible choices—and time is of the essence to make sure it survives.
I’m committed to doing everything I can through my work on the House Ways and Means Subcommittee on Social Security to support that process. That includes teaming up with my colleagues today to introduce the landmark Social Security 2100 Act, a groundbreaking piece of legislation to protect critical benefits and require everyone to pay their fair share in taxes to support the system.
This bold, desperately needed bill would expand benefits for all current and future Social Security recipients, cut taxes for 10 million seniors, and help ensure the system remains solvent for the rest of the century. It would also provide long term protection against inflation for future cost of living adjustments, a big step forward in our fight to make these benefits as effective and robust as possible.
The difference next year’s 5.9 percent cost of living adjustment—the biggest increase Social Security has seen in the last 40 years—will make in the lives of Oregonians is a powerful reminder of how important it is that we continue to work together to make this program stronger. It’s Congress’ job to make that happen, and I’ll be sure to keep you updated as those efforts continue.
