Money

House GOP’s Plans to Cut Social Security and Medicare Advance

7 total views
January 17, 2023

House GOP’s Plans to Cut Social Security and Medicare Advance

Rep. Chip Roy (R-TX) said last Sunday on CNN’s “State of the Union” that Republicans don’t plan to alter benefits for current Social Security and Medicare recipients.

However, at least 127 members of the House Republican Study Committee have released a budget for fiscal 2023 that will increase the eligibility ages for Social Security and Medicare, and reduce benefits for people 54 and younger by changing the Social Security benefit formula.

In addition, many House Freedom Caucus members demanded that Kevin McCarthy commit to leverage the debt ceiling vote to force President Biden and Democrats to agree to slash Social Security and Medicare in exchange for voting for him as Speaker.

House Democratic Whip Katherine Clark (MA) said that GOP plans to use the debt limit to force cuts to Social Security and Medicare show that “the keys have been handed over to extremists.” She added that the threats amount to “taking our seniors hostage.”

The GOP plans come despite a recent CBS News/YouGov poll showing that 71% of Americans believe that protecting Social Security and Medicare should be a high priority for the new Congress.

“The House Republicans are making dangerous and unreasonable demands,” said Robert Roach, Jr., President of the Alliance. “We must not allow them to use our earned benefits as a bargaining chip.”

Share this Post

About Us

Our mission is to bring retirement news, financial information, and advice to seniors enjoying their golden years.