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Saturday, April 13, 2024

7 New Social Safety Payments in Congress Now

Lawmakers are staring down a mid-August deadline to carry the debt ceiling, with Republican threats to permit a default — except Social Safety and Medicare cuts are made — nonetheless within the offing.

“If the Republicans enable a default to happen, along with world financial disaster, the fee of Social Safety advantages and funds to Medicare to cowl beneficiary providers might be delayed,” Max Richtman, president and CEO of the Nationwide Committee to Protect Social Safety and Medicare, informed ThinkAdvisor in an e mail.

“If a default is coupled with a authorities shutdown, it might trigger Social Safety Administration customer support to be significantly lowered,” Richtman defined.

Democrats, he mentioned, “have realized ever since 2011 to not negotiate on the debt restrict, and have completed so ever since then, as a result of they oppose drastic spending cuts on important packages.”

Moreover, “Social Safety shouldn’t be a debt-related concern,” Richtman famous. “It’s self-funded and doesn’t add a penny to the debt. Even when Republicans maintain their phrase (by way of verbal settlement throughout the State of the Union), all the pieces else continues to be on the desk, together with Medicaid, SSA working funds, and Older American Act packages.”

Plus, “Republicans’ definition of ‘lower’ tends to be suspect, as a result of a lot of their Social Safety proposals would slash advantages for future — if not present — retirees,” he mentioned.

Associated: Social Safety Fund on Observe to Go Bust in 2023: Trustees Report

The Nationwide Committee to Protect Social Safety and Medicare, Richtman defined, encourages Democrats and President Joe Biden “to face agency on a clear debt ceiling invoice, and towards any cuts to People’ earned advantages.”

The group is preventing a invoice reportedly taking form by Sens. Invoice Cassidy, R-Louisiana, and Angus King, I-Maine, that “would put Social Safety on a slippery slope towards privatization — and finally lower advantages for future beneficiaries.”

One invoice launched in January would assure Social Safety advantages throughout a debt restrict standoff, whereas one other would improve Social Safety advantages by $2,400 a 12 months.

Learn the gallery to see seven Social Safety-related payments launched this 12 months.

(Picture: Shutterstock)

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