CBO: GOP Social Security Plan Would Cut Benefits by Thousands, Not Extend Solvency

Brendan Boyle News

CBO: GOP Social Security Plan Would Cut Benefits by Thousands, Not Extend Solvency
Congressional Budget OfficeDonald TrumpElection 2024
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Jessica Corbett is a senior editor and staff writer for Common Dreams.

Social Security defenders have long argued that former Republican U.S. President Donald Trump 's return to the Oval Office could spell disaster for seniors, and a nonpartisan government analysis released Wednesday bolsters their warnings. U.S. House Budget Committee Ranking Member Brendan Boyle asked the Congressional Budget Office to analyze the impact of raising the full retirement age for Social Security from 67 to 69, as various Republican groups have proposed.

' Boyle and Senate Budget Committee Chair Sheldon Whitehouse have introduced the Medicare and Social Security Fair Share Act, which would extend the solvency of both programs by requiring Americans with higher incomes to pay more than they do now. 'Social Security is a sacred promise that after a lifetime of hard work, Americans have earned the right to retire with dignity,' Boyle said Wednesday.

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