Representative Mike Levin Helps Introduce Landmark Social Security Proposal
Washington, D.C. – Today, Representative Mike Levin (D-CA) joined Rep. John B. Larson (D-CT), in introducing the Social Security 2100 Act, a bill that increases Social Security’s vital benefits while making the system financially strong throughout the 21st century.
“Social Security is fundamental to the economic stability of many seniors, people who experience disabilities, and others in the communities I serve. With the Social Security 2100 act, we can improve the program’s solvency and increase benefits for current recipients. This should be a bipartisan bill, and I look forward to working across the aisle on this critical effort,” said Rep. Levin.
“Social Security is not an entitlement – it’s the insurance Americans have paid for through a lifetime of work to fund retirement, disability, and survivor benefits. The Social Security 2100 Act takes common sense steps to increase benefits and to make the system financially secure for the next 75 years and beyond. Social Security is the most successful program in American history, it is time to improve it for the future,” said Rep. Larson.
The Social Security 2100 Act provides the following:
- An across-the-board benefit increase for current and new beneficiaries
- An improved cost-of-living adjustment (COLA) that takes into account the true costs incurred by seniors
- A stronger minimum benefit, so someone who works their whole life does not retire into poverty
- A tax cut for over 12 million Social Security recipients by eliminating the tax on their benefits
Social Security is the most important source of retirement income for 4 out of 5 seniors. It also provides protections to disabled workers and families who have lost a breadwinner. With common sense steps like those in the Social Security 2100 Act, Congress can improve benefits while ensuring Social Security remains financially strong throughout the century.