Washington, D.C. — This summer, the House Republican Study Committee (RSC) unveiled its budget proposals for the upcoming fiscal year and beyond, including proposals that would make harsh changes to Social Security. A new Center for American Progress column examines how these proposed budget cuts would harm future beneficiaries.
The RSC budget proposals would cut a total of $718 billion from the Social Security program over 10 years. According to Roll Call, the budget would raise the retirement age for full benefits from age 67 to age 69, a change that would be phased in from 2026 to 2033 for those who turn 62 in 2026 or later. For all those turning 62 in 2033 or later, raising the retirement age to 69 would cut benefits by about 13 percent. Cutting these benefits would endanger future retirees’ economic security, especially for low- and middle-income seniors who are most likely to rely heavily on Social Security for daily living expenses.
Some proponents of raising the retirement age argue that people are living longer and can work longer. However, many people cannot work longer as they age because they have poor health, are jobless, have caregiving responsibilities, or have physically taxing jobs.
“The RSC budget, if enacted, would change the Social Security program by significantly cutting benefits for future retirees who will depend on the program to make ends meet. Congress should swiftly reject this proposal to protect the benefits that seniors rely on,” said Alan Cohen, senior fellow and author of the column.
Read the column: “The House Republican Study Committee Budget Proposes Harsh Changes to Social Security” by Alan Cohen
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