GOP Plan to Cut Social Security and Medicare Is Disliked Among Republican Voters

New polling finds that the GOP’s plan to force cuts to Social Security and Medicare through debt ceiling legislation is vastly unpopular — even among a majority of the Republican voter base. According to a new survey by Data for Progress, 63 percent of all voters think that House Republicans should allow the debt limit to be raised to avoid economic disaster, without executing their cynical plan… Source Source / Read More: GOP Plan to Cut Social Security and Medicare Is Disliked Among Republican Voters

Congress Passes Measure Making It Easier for Workers to Track Retirement Funds

A proposal to make it easier for workers to access all of their retirement funds across different employers has passed into law after being added to the omnibus funding bill last week, marking a small win for workers. The Retirement Savings Lost and Found Act, first introduced by Senators Elizabeth Warren (D-Massachusetts) and Steve Daines (R-Montana), creates an online “lost and found” database… Source Source / Read More: Congress Passes Measure Making It Easier for Workers to Track Retirement Funds

GOP Lawmaker Says Programs Like Social Security Are “Garbage” That Must Be Cut

As Republicans prepare to wage a war on crucial anti-poverty programs when they take control of the House, using the debt limit and major risks to the economy as a weapon, some members of the GOP are threatening to vote against raising the debt limit no matter what. According to CNN, several Republicans are saying that they will still vote against a bill raising the debt limit even if Republicans… Source Source / Read More: GOP Lawmaker Says Programs Like Social Security Are “Garbage” That Must Be Cut

High-Ranking Senate Republican Reveals GOP Plan to Slash Social Security

The GOP is preparing to use next year’s debt limit talks to potentially hold the economy hostage in order to slash crucial anti-poverty programs like Social Security, according to a new interview with the Senate’s second ranking Republican. Sen. John Thune (R-South Dakota) said that slashing such programs would be a “solution” to the national debt — an issue that Republicans only bring up in… Source Source / Read More: High-Ranking Senate Republican Reveals GOP Plan to Slash Social Security

Sanders: GOP Wants to Repeal Estate Tax, Give Elon Musk’s Family $83B Tax Break

Sen. Bernie Sanders (I-Vermont) denounced the Republican Party’s economic plans on Thursday, calling Republicans out for pursuing moves like repealing the estate tax, which would only serve to further consolidate wealth within the richest groups of U.S. society. At a rally for Democratic gubernatorial candidate Tina Kotek and congressional candidate Val Hoyle in Oregon, Sanders sharply criticized Republicans for wanting to repeal the estate tax — the tax on property passed onto a person’s heirs when they die. Because there is a relatively high exemption amount for the estate tax of about $13 million for individuals and $26 million for…

GOP Plan on Threatening Recession if They Can’t Cut Medicare, Social Security

If Republicans take control of the House this fall, they plan on using debt limit talks — and the possibility of throwing the U.S. into default — if they don’t get their way on slashing government programs. According to a new interview with House Minority Leader Kevin McCarthy (R-California), the party is planning on using must-pass debt ceiling legislation to force through the GOP’s agenda. “You can’t just continue down the path to keep spending and adding to the debt,” McCarthy said in an interview with Punchbowl News, ignoring the fact that economists view national debt obligations as often signaling…

GOP Plans to Gut Social Security and Medicare If It Retakes Control of Congress

The Democratic chair of the congressional Joint Economic Committee warned Wednesday that the GOP’s plan to use a looming debt ceiling fight as leverage to secure cuts to Social Security and Medicare would be “economically catastrophic for seniors, families, and our entire economy.” “Past debt-limit brinksmanship resulted in the first-ever downgrade of the U.S. credit rating and cost the country billions of dollars in lost economic activity, even though a default was ultimately avoided,” Rep. Don Beyer (D-Va.) said in a statement after several House Republicans outlined their intentions in interviews with Bloomberg Government on Tuesday. “This announcement comes after…

Poll Finds 83 Percent of Americans Want to Expand Social Security

Social Security, one of the nation’s oldest welfare programs, is set to start running out of money in about a decade — and Americans want Congress to take action, new polling finds. In a poll of about 1,300 likely voters, Data for Progress found that a bipartisan majority of Americans — 84 percent — are “very” or “somewhat” concerned that Social Security won’t be able to pay out full benefits to future generations. Eighty-three percent of voters, also on a bipartisan basis, support raising Social Security benefits in order to match current cost of living standards, and to ensure that…

Sanders Calls for Expanding Social Security Benefits by Taxing the Rich

Sen. Bernie Sanders announced Friday a Senate hearing next week focused on expanding Social Security as he and other defenders countered false and repeated Republican claims that popular program is headed toward insolvency. While a report released Thursday by the Board of Trustees of the Federal Old-Age and Survivors Insurance and Federal Disability Insurance Trust Funds showed that Social Security has a surplus of $2.85 trillion, the independent senator from Vermont said benefits should be increased for retirees — an expansion that could easily be paid for with by raising the cap on payments into SSI by wealthy Americans who…