The U.S. Senate is poised to approve legislation that would boost Social Security payouts to certain government workers, even though they never contributed to the system and despite warnings that doing so could speed up the program’s financial collapse.
Key Facts:
– The Senate is expected to vote soon on the Social Security Fairness Act, which already passed the House by a wide margin.
– The bill eliminates the Windfall Elimination Provision (WEP) and the Government Pension Offset (GPO), measures currently limiting Social Security benefits for certain public workers and their spouses.
– Eliminating these provisions will cost an estimated $195 billion over 10 years, according to the CBO.
– Experts warn that this change may accelerate Social Security’s insolvency, predicted to occur in about nine years.
– Public sector unions have lobbied heavily for the bill, calling the existing rules unfair.
The Rest of The Story:
If the Senate passes the Social Security Fairness Act, it would send the measure to the White House, where President Joe Biden could sign it into law.
Proponents say the bill corrects what they view as an unfair reduction in Social Security benefits for certain retirees.
The current rules were designed to prevent some state and local government workers, who never paid into the system, from receiving higher-than-warranted benefits.
Critics argue that the planned changes could lead to extra costs for a program already teetering on the edge of insolvency.
Rather than tackling Social Security’s long-term problems, they say Congress is boosting payouts to a select group.
Maya MacGuineas, president of the Committee for a Responsible Federal Budget, said it is “truly astonishing” that lawmakers are making this move at a time when the trust fund is so close to running dry.
🚨 Key Vote Alert: The Club for Growth urges Senators to vote NO on H.R. 82, the Social Security Fairness Act. This fiscally reckless bill threatens Social Security's solvency & accelerates across-the-board cuts for seniors.
Learn more – https://t.co/UhYhl5xxJB pic.twitter.com/N2ho7ZQTrX
— Club for Growth (@club4growth) December 16, 2024
Commentary:
Congress’s plan to strip away these protective measures is reckless beyond measure.
They are essentially handing out benefits that have not been earned, ignoring the reality that Social Security is on the brink of failing those who rely on it.
At a time when everyone knows the system is deeply strained, giving an unearned boost to certain union-backed groups is irresponsible and self-serving.
Government workers benefiting from this bill did not pay into Social Security.
Yet, under this legislation, they would receive more from a program that already faces a massive shortfall.
It is hard not to see this as a form of legalized theft—funds that were never theirs to begin with, taken right out of the pockets of those who did pay in.
The biggest question readers need to ask themselves about this legalized theft of social security funds is how the hell did it pass the REPUBLICAN controlled House?
The Bottom Line:
By removing the WEP and GPO rules, Congress is putting the stability of Social Security at greater risk while rewarding a special group. In the end, this move may make everyone’s retirement less secure.