Could the social security reform arrive at the next congress?
Could the social security reform arrive at the next congress?

Could the social security reform arrive at the next congress?

Social Supervision report in August last year that Social Security will run out of the opportunity to pay the full benefits in 2034 – a year earlier than previously predicted – attracted much media attention but did not lead to much public reaction from political leaders.

The White House’s legislative agenda did not include social security reform in any major way. Mens rep. John Larson (D-Conn.) Introduced legislation called the Social Security 2100: A Sacred Trust, it has not yet received a committee vote or approval from the White House or Congress leaders.

Larson gave one interview this week with The Intercept, which looked at the question of why the Democratic congressional leadership has not moved forward with its legislation. That article said Larson’s framework would probably have a hard time getting through the Senate because the rules prohibit the use of voting for bills that make changes to social security.

Another recent name call report looks at the direction that social security reform can take, though not before the next Congress. The report says a two-part group of senators has discussed a package of social security corrections that could emerge as a compromise in the event of a Republican takeover of one or both houses of Congress in November.

The group of senators spans both sides of the political aisle, including Democrats Duck Durbin (Ill.) And Joe Manchin (WV), Independent Angus King (Maine), and Republicans Mitt Romney (Utah) and Bill Cassidy (La.) .

Should Republicans win back one or both houses of Congress, it would lead to a divided government in Washington. It would require at least some bipartisan cooperation to adopt budgets, military permits and other necessary legislation.

King and Romney have, according to Roll Call, sponsored legislation to set up “rescue committees” that aim to “come up with proposals to address social security and other trust funds in financial trouble.” The model would be the Social Security Act of 1983 was signed by Ronald Reaganwhich was the last major piece of social security reform legislation passed by Congress.

Manchin said in a recent interview with a radio station in his home state of West Virginia that he was in favor of getting rid of the current tax ceiling for social security benefits. “You can not just say, yes, if you earn less than $ 400,000, we will not raise anything,” Manchin said in that interview, referring to the president’s promise not to raise taxes on those who earn less than that amount. “The bottom line is, you know, we should take the cap off, increase it so we have the financial stability.”

Stephen Silver, a technology writer for The National Interest, is a journalist, essayist and film critic who is also a contributor to The Philadelphia Inquirer, Philly Voice, Philadelphia Weekly, Jewish Telegraphic Agency, Living Life Fearless, Backstage magazine, Broad Street Review and splice today . Co-founder of the Philadelphia Film Critics Circle, Stephen lives in suburban Philadelphia with his wife and two sons. Follow him on Twitter at @StephenSilver.

Image: Reuters.

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