Tag: trust fund solvency
The first bill out of the gate this year to solve the Social Security financing problem was the Social Security 2100 Act, proposed by Representative John Larson (D-CT), Chairman of the House Ways and Means Subcommittee on Social Security; Senator Richard Blumenthal (D-CT); and Senator Chris van Hollen (D-MD). This legislation retains – and even…
The Social Security program faces a 75-year deficit of 2.66 percent of taxable payrolls – virtually unchanged from last year. Largely because of the Bipartisan Budget Act of 2015, the life of the Disability Insurance trust fund – which was scheduled for exhaustion in 2016 – has been extended by seven years. The combined Old-Age,…
