5 Promises Biden Has Made About Social Security If He’s Reelected
With many Americans reliant on Social Security income, the future solvency of the program is top of mind for many voters. President Joe Biden has promised that he will “always protect — and strengthen — Social Security,” according to his official campaign website.
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Here’s how Biden plans to make good on that promise if he is re-elected.
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No Benefit Cuts
Biden has promised to “block any piece of legislation that comes to his desk that endangers the hard-earned Social Security benefits the American people deserve,” his campaign website states. “With Joe Biden and Kamala Harris in the White House, you can rest easy knowing that your financial future is protected.”
Extending Solvency by Ensuring High-Income Americans Pay Their Fair Share
Biden believes one of the main issues with the current Social Security program is that high income earners are not paying sufficient taxes into the fund.
“Currently, middle-class and lower-income Americans pay Social Security taxes on all of their earnings, but higher-income Americans do not,” Biden’s campaign website states. “That’s plain wrong, and the path toward extending Social Security solvency should start by making that right.”
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Improving Benefits for Seniors and People With Disabilities
In a March press release, the White House outlined Biden’s proposed Fiscal Year 2025 Budget, which includes plans for the Social Security program.
“The President supports efforts to improve Social Security benefits, as well as Supplemental Security Income benefits, for seniors and people with disabilities, especially for those who face the greatest challenges making ends meet,” the release states.
More Investment in the Social Security Administration
In the press release, the Biden administration also promised to ensure “that Americans can access the benefits they’ve earned.” It continued, “The President supports investments in Social Security Administration (SSA) services so that seniors and people with disabilities can access the benefits they’ve earned.”
No Increase in the Retirement Age
Currently, seniors are able to begin collecting Social Security benefits at age 62, and the full retirement ranges from 66 to 67 depending on year of birth. On his official campaign website, Biden promised that he would not raise the retirement age during his presidency.
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This article originally appeared on GOBankingRates.com: 5 Promises Biden Has Made About Social Security If He’s Reelected