Tag: social security revenue
It has temporary benefit increases, is greedy on the COLA, and overreaches on revenues. The original Social Security 2100 Act, released in 2019 by Congressman John Larson (D-CT), then Chair of the House Ways and Means Subcommittee on Social Security, was terrific. The legislation retained, and even slightly enhanced, benefits and substantially increased revenues to…
New wage data offer unexpected angle on one potential avenue of impact. The 2020 Social Security Trustees Report, which came out a few weeks ago, showed an increase in the program’s 75-year deficit from 2.78 percent to 3.21 percent of taxable payroll. The depletion date for the trust fund remained at 2035. Since this report was…