The 2 American Political Parties rarely agree on Social Security particulars. In 2019 Congress introduced Social Security 2100 Act. Russell Gloor, the Social Security expert for the Association of Mature American Citizens Foundation, explains what happened next. "And then nothing happened. This almost always happens on almost all Social Security bills when they are introduced. They sit in 'committee.' "
It was re-introduced a few months ago and is now sitting in the Finance Committee.
You Can't Count on Social Security
The Act will modestly increase Social Security benefits, and has only been sponsored by Democrat lawmakers; Republicans showing reluctance to support it with concerns of how to cover the cost of increased benefits. Gloor says until they have a bi-partisan bill - it probably won't be passed. House Democrats are again introducing a bill they say will save Social Security. . Social Security 2100 so far is not sponsored by any Republicans. They say they are concerned about how it will be financed. Bob Carlstrom, the president of Association of Mature American Citizens Action explains. "The money that is coming in from workers' payroll taxes isn't enough to pay out the benefits. That extra money will be taken out of the trust fund - and that's going to run out in 2033 or 2034."
photo:GettyImages
Social Security Benefits Photo: Getty Images