Retirement

I believe that it is essential to help everyone plan and prepare for retirement.  That includes protecting earned benefits, like Social Security, from future cuts. 

That is why I:

• Voted against Republican Budget plan to fast-track the process to privatize Social Security and force other benefit cuts.
   
• Asked the President and Republicans to set aside proposed plans for a formula that would reduce the annual cost of living increase to Social Security beneficiaries.
   
• Cosponsored legislation to ensure that there is a Social Security cost of living formula that accounts for the typical expenses of older Americans and protects them from benefit cuts in hard economic times.
   
• Cosponsored legislation to merge the Federal Old-Age and Survivors Insurance Trust Fund and the Federal Disability Insurance Trust Fund to ensure that beneficiaries receive payments without depending on emergency Congressional intervention.
   
• Cosponsored legislation to preserve all existing retirement savings incentives, including tax incentives to employers and employees for defined contribution plans, defined benefit plans, IRAs, etc.
   
• Sent letters urging the tax-writers to preserve tax deductions for employer contributions to employee savings and retirement plans.

While I am very focused on the current issues impacting Social Security, I am also committed to advancing proposals to ensure long term solvency of the Social Security Trust Fund.