Fight Income Inequality: Expand Social Security

As the President calls for us to fight income inequality in his State of the Union speech, we must turn our backs on calls to cut our Social Security system, and make efforts to expand it!

Senators Tom Harkin (D-IA) and Mark Begich (D-AK) have proposed legislation doing just that, and as our voices grew louder, they were joined in co-sponsorship by Senators Sherrod Brown (D-OH), Brian Schatz (D-HI), and by 47 members of the House of Representatives.

Sign our petition calling on the U.S. Congress to support S.567 and H.R.3118, which would strengthen Social Security the right way!

S.567, introduced by Senator Harkin, and H.R. 3118, its House companion bill, would:

  • Increase cost of living adjustments (COLAs), not decrease them. Instead of cutting benefits through a Chained CPI formula, Senators Harkin and Begich have proposed using a benefit formula designed specifically to take into account seniors’ rising living expenses such as healthcare, food, and housing.
  • Ensure that the wealthy are paying their fair share into Social Security. In 2013, American only paid Social Security payroll taxes on their first $113,700. That means that Wall Street CEOs could pay a far lower share of their earnings than most. By lifting the payroll tax cap on Social Security, we can extend the life of Social Security for at least the next 75 years.
  • Increase Social Security benefits for all recipients by approximately $70 per month, or $800 a year. Senator Harkin’s bill would reform the benefit formula for nearly all beneficiaries, but target those most in need. This would result in an across the board benefit increase, with the most going to those in the lower and middle classes.