Two Bills to Strengthen Social Security Trust Fund Introduced in House

Last week, Representative Peter DeFazio (D-OR) introduced two bills that seek to preserve Social Security for future beneficiaries, including people with disabilities. The Fair Adjustments and Income Revenues (FAIR) for Social Security Act (H.R. 1984) would ensure that the Social Security Trust Fund is able to pay full benefits at least through 2057. This bill would do so by eliminating the cap that currently allows the wealthiest Americans to contribute a significantly lower percentage of their annual income to the trust fund. The bill was referred to the House Ways and Means Committee and the House Education and the Workforce Committee. The Social Security Protection and Truth in Budgeting Act (H.R. 1983) would ensure Social Security trust funds are not used for non-Social Security purposes. Additionally, it would separate Social Security trust funds from the federal budget so they could not be used to artificially lower the deficit. The bill was referred to the House Budget Committee and the House Ways and Means Committee. The Arc applauds the introduction of these two bills.

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