Neal releases statement on Republican plan to cut Social Security benefits
Washington, D.C. — Incoming ranking member of the House Ways and Means Committee Rep. Richard Neal, D-Massachusetts, released the following statement Friday after the top Social Security Republican introduced legislation to cut Social Security benefits:
“Less than one week after Speaker Paul Ryan told ‘60 Minutes‘ that he had no plans to change Social Security, the Republican Chairman of the Social Security Subcommittee introduced a bill that would dramatically cut Social Security benefits. As Congressional Republicans prepare to dismantle Medicare and Medicaid, it now appears that Social Security has been added to the Republicans’ chopping block. America’s seniors will be alarmed to hear that the top Republican on this important Subcommittee quietly put forward a plan to drastically cut Social Security benefits for millions of seniors. Instead of honoring the promises made to our seniors, the Republican plan would amount to a massive cut in Social Security benefits for working Americans through cuts to the cost-of-living adjustment (COLA), raising the retirement age to 69 and cuts to the benefit-computation formula. Ultimately, this translates to a 30 percent or more cut in benefits for middle class retirees. Social Security is the bedrock of retirement security – a benefit that seniors have earned through contributions over a lifetime of work. We should be strengthening Social Security, not cutting it. Democrats will fight any effort to undercut Social Security, just as we will fight any plan to replace Medicare with a voucher.”
