Social Security

• The first order of business should be to do no harm. If we do nothing to Social Security, it will continue to pay out full benefits through 2037.
• Privatizing Social Security or reducing benefits would jeopardize the livelihood of the 48 million Americans who depend on Social Security.
• We owe it to our seniors to make sure that their retirement is not compromised in any manner. They have spent a lifetime paying into Social Security, and we have a covenant with them that the money they paid into the system will be there for them in their retirement.

Strengthening Benefits

Social Security COLA Fix for 2010 Act

In the 111^thCongress, Congresswoman McCarthy introduced the Social Security COLA Fix for 2010 Act.  This bill would have provided seniors a one-time $150 payment in lieu of a social security cost of living adjustment in 2010.  The Social Security Administration announced that because there had been no inflation in the price index that is used to calculate the cost of living adjustment for Social Security there would be no COLA in 2010.  Understanding that costs to our seniors have increased, the Congresswoman introduced this legislation to help offset some of these rising costs.

The Congresswoman also believes the Consumer Price Index used to calculate the Social Security COLA is flawed.  Congresswoman McCarthy believes that in calculating the inflation faced by seniors we should use a price index that focuses specifically on the costs that seniors face.

Social Security Fairness Act

Congresswoman McCarthy has supported the Social Security Fairness Act which repeals the Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). The GPO provision reduces a widowed spouse's potential Social Security benefits by two-thirds if his or her partner received pension payments from a non-Social Security plan. The WEP provision reduces the Social Security benefits of workers who also have pension benefits from employment not covered by Social Security.