WASHINGTON, D.C. (December 6, 2012) – Today, Rep. Schakowsky (D-Ill.), co-chair of the House Democratic Caucus Seniors Task Force, released the following statement after joining 101 of her colleagues to send a letter to House Speaker John Boehner asking that Social Security be excluded from the ongoing budget negotiations. 

“Social Security has not contributed a dime to our budget deficit.  By law, Social Security cannot borrow money or run a deficit.  Nor is Social Security in crisis.  With a current $2.7 trillion reserve, it is in no danger any time soon of running out of funds to pay benefits. 

The average annual Social Security retiree benefit in Illinois is $13,541.  For two out of every three retirees, that benefit represents the majority of their income --  for 1 out of every three, it accounts for 90% or more of their income.  Yet Republicans in Congress continue to ask retirees –  current and future – to face cuts in their earned Social Security benefits so that tax rates can be lowered for those with incomes above $250,000.

We must take Social Security benefit cuts off the negotiating table – so that seniors will not have to worry whether they will be able to put food on their tables.”

The full text of the letter is attached.

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FOR IMMEDIATE RELEASE                                                                                                                                   

Rep. Jan Schakowsky, Adjoa Adofo, (202) 225-2111