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Feenstra Leads Legislation to Protect Solvency of Social Security

U.S. Rep. Randy Feenstra (R-Hull) introduced the Save Our Seniors Act, which would help protect the long-term solvency of Social Security by requiring the nonpartisan Congressional Budget Office (CBO) to include the honest projection of Social Security’s financial health in its annual ten-year economic outlook.

“Our seniors deserve to receive the Social Security benefits that they have earned after a lifetime of hard work and sacrifice. However, thanks to reckless government spending and elevated interest rates, recent reports project that the Social Security trust fund could run out of money in less than a decade. This is not only alarming for folks who rely on their Social Security check, but also absolutely unacceptable for lawmakers who choose to ignore this looming crisis,” said Rep. Feenstra. “That’s why I introduced the Save Our Seniors Act, which would make a simple, yet vital change to how we convey the long-term solvency of Social Security. Instead of sticking our heads in the sand and pretending that Social Security remains in strong financial health, my bill will make this crisis front-page news for lawmakers and the American people alike. I will continue to work to ensure that our seniors and workers receive the benefits that they deserve while strengthening our nation’s fiscal foundation.”

More specifically, the Save Our Seniors Act would ensure that a simple and easy-to-understand graph depicting the actual outlook for the OASDI Trust Fund is included in the CBO’s ten-year economic outlook. Similar graphs exist in other Social Security related reports, like the Trustees Reports, but not in a document as widely viewed as the CBO’s outlook, which is used by members of Congress and economists to get a detailed look at the health of our nation’s economy and the federal budget.

Legislative text can be found HERE.

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