Debt-commission proposal from Sens. Mitt Romney and Joe Manchin has critics worried about benefit cuts
“‘The reality is not everything is on the table because neither one of us and nobody else is talking about changing our entitlements for retirees or people nearing retirement.’ ”Sen. Mitt Romney , a Utah Republican, and Sen. Joe Manchin , a West Virginia Democrat, said during a CNBC segment Thursday that they don’t intend to cut benefits for current or near retirees.
Romney and Manchin are leading an effort to create a commission targeting the country’s debt and fiscal health. The two on Thursday introduced the Fiscal Stability Act, which would create a commission “tasked with finding legislative solutions to stabilize and decrease our national debt, which now exceeds $33.6 trillion — more than double what it was just 10 years ago,” according to Romney’s announcement.
“It is imperative to understand that Social Security does not add a penny to the federal debt,” the letter said. “It has its own dedicated revenue, cannot spend a penny unless it has sufficient dedicated revenue to cover the cost of all benefits and associated administrative costs, and has no borrowing authority.”Proponents argue a commission to solve the country’s rising debt problem could strengthen the economy and protect national security.
Senators in favor of the proposal say this commission would protect programs like Social Security and Medicare by focusing on government spending.
Social Security Benefits Retirees Mitt Romney Joe Manchin
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Romney vows Social Security ‘promises will be kept’ after benefit-cut concernsDebt-commission proposal from Sens. Mitt Romney and Joe Manchin has critics worried about benefit cuts
Read more »
Video: Mitt Romney confronted by protester asking for ceasefire between Israel, HamasSen. Mitt Romney was confronted by a protester Wednesday who asked for a ceasefire between Israel and Hamas.
Read more »
Video: Mitt Romney confronted by protester asking for cease-fire between Israel, HamasSen. Mitt Romney was confronted by a protester Wednesday who asked for a cease-fire between Israel and Hamas.
Read more »
What drove Mitt Romney to stand up to his own party?In 'Romney: A Reckoning,' journalist McKay Coppins gets unfettered access to the senator’s journals, emails and dozens of private interviews to unpack what led Romney to combat the GOP’s embrace of Donald Trump.
Read more »
Romney introduces bipartisan bill aimed at stabilizing national debtUtah Sen. Mitt Romney introduced a bipartisan bill that would create a commission to look into ways to stabilize the national debt to GDP ratio.
Read more »
Sen. Joe Manchin says he won't run for reelection to Senate in 2024West Virginia Sen. Joe Manchin called the decision 'one of the toughest' of his life.
Read more »