81 years ago, Social Security was born out of a commitment to make sure that older americans were not relegated to a live of poverty. In the years since we have built on that commitment, ensuring that hard-working Americans that pay in to Social Security have financial security they deserve when they retire.
Joe knows how important Social Security is to people all across eastern Connecticut, and is working not just to protect and preserve this vital part of our safety net – but to grow it so that it can meet the needs of future generations.
That is why Joe is fighting for Social Security’s future:
- Joe is fighting for comprehensive legislation, the Social Security 2100 Act, to extend Social Security’s solvency and improve benefits. Among other things, the bill lifts the cap on earnings so that everyone contributes their fair share, bumps up benefits for current recipients by an average of two percent, lowering taxes for those who receive benefits, and ensuring that the minimum benefit keeps pace with poverty levels. Together, this proposal would keep Social Security fully solvent for more than 75 years.
- Joe is working to ensure that cost of living adjustments, or COLAs, accurately measure the costs faced by Social Security beneficiaries. While current law pegs these automatic updates to an economic measure that tracks prices paid by younger workers, Joe believes that this formula must be reformed to more heavily weigh costs like housing, utilities and prescription drugs that more directly impact those living on Social Security.
July 21st, 2016
- And, to address the lack of COLA update in 2016 thanks to the flawed formula, Joe supports legislation to provide Social Security recipients a 3.9 percent boost – the same as the average pay raise for the top CEOs last year.