WPBN: A plan to raise Social Security payouts for those who qualify for government pensions other than Social Security will be put to a vote in the Senate on Wednesday. The Social Security Fairness Act, which was easily passed by the House of Representatives with bipartisan support, will now be put to a final vote before becoming law.
Although it has been approved by both parties, even among senators, the Republican party appears to have very different views, with many opposing it when considering the bill’s high cost.
According to an unidentified senator who was aware of the behind-closed-door conversations, “I think most of our members were alarmed that something so big would come straight to the Senate floor” because the Senate Finance Committee had not marked it up.
The views of senators who were against the Social Security Fairness Act
Other controversial suggestions, including progressively raising the retirement age even more to offset expenses, as demanded by a group of Senate conservatives led by Sen. Rand Paul (R-Ky.), are also accompanied by the lack of support.
Paul told that, “It speeds the bankruptcy of Social Security. Social Security is due to go bankrupt in 2034. This will speed it up by a year or so. It’s $200 billion added to a program that is already short of money. If you’re going to add to its mandate by expanding it, you should pay for it. One of the proposals that’s been out there for a long time is to gradually raise the age of eligibility. I’ll propose that as an amendment. … If we raise the age [of retirement] gradually, about three months a year for the next 12 years, the age will go to 70 and then be linked to longevity. That would pay for this expansion. I won’t vote to support expanding [Social Security benefits] without paying for it. There are several other people opposed to this bill, too. So it may be that the others simply just want to delay it as long as possible in hopes that they will not be able to complete it this week”
Since their primary audience consists of seniors, many Republican lawmakers—including President-elect Trump—are surprisingly hesitant to address retirement age. However, if Senator Paul wants to prolong the debate, the bill may not pass and the Senate may postpone its consideration of a stopgap funding bill that must be approved by Friday at the latest in order to prevent a government shutdown.
John Thune (S.D.), Senate Republican Whip, noted the sharp division among the party but offered a less forceful opinion on the matter. “There was a lot of conversation around [it] today. I think in the end, it’s going to come down to individual members are going to make their own decisions. Obviously, I’m concerned about the long-term solvency of Social Security, and that’s an issue that I think we need to address,” he continued.
Social Security Adjustments: Some Retirees’ Final Check Arrives December 24
However, not everyone shares this sentiment. Senators like Mike Lee (R-Utah), a well-known conservative, have adamantly maintained that funding is the main concern, despite the fact that the bill would only shorten the Social Security deficit by six months (per the Congressional Budget Office) and that additional reform is required for the program’s overall survival. It must be counterbalanced in some way.
To the best of my knowledge, we have never detonated a bomb so enormous that it would cause a $200 billion hole in the Social Security trust fund,” he stated. I recognize that some injustices that have developed in this area must be addressed.
Nobody in our conference doesn’t agree that we need to do some repairs, but if we blow a $200 billion hole in it and don’t think about how to fix it, I believe we’re deluding ourselves and the American people,” Lee added.
More Financial Relief Coming to Low-Income Households with Increased SNAP Benefits
One of its ardent opponents is Senator Ron Johnson (R-Wis.). “I hope it is defeated. I believe that many of the folks who co-sponsored it [did so] because it affects people in their state. They always assumed that the cost would be covered. It’s far too general. In reference to the Government Pension Act, he stated, “It offers benefits to those who aren’t harmed by the fix from the 1970s.” “I would consider it grotesquely careless.”
Sen. Mike Braun of Indiana, Deb Fischer of Nebraska, Pete Ricketts of Nebraska, Marsha Blackburn of Tennessee, Lisa Murkowski of Alaska, Markwayne Mullin of Oklahoma, John Boozman of Arkansas, Rick Scott of Florida, Jerry Moran of Kansas, John Kennedy of Louisiana, and vice president-elect JD Vance are among the Republican co-sponsors.
