Lawmakers Re-Introduce the Social Security Expansion Act
Lawmakers have another chance to protect Social Security for generations to come. U.S. Representative Val Hoyle (Oregon) along with U.S. Senator Bernie Sanders (Vermont), Sen. Elizabeth Warren (Mass.), and Rep. Jan Schakowsky (Illinois) have introduced the Social Security Expansion Act 2025. The landmark piece of legislation would expand Social Security benefits by $2,400 a year and ensure Social Security is fully funded for the next 75 years by applying the Social Security payroll tax on all income above $250,000.
The bill’s sponsors call Social Security the most successful government program in the history of our country. Since it started 86 years ago, Social Security has paid out every benefit owed to every eligible American on time and without delay. But that could end within the next 10 years. Social Security is facing a severe deficit and if Congress doesn’t act it could be forced to cut benefits. The Social Security Expansion Act would prevent that from happening.
Statements of Support
In a press release, Rep. Hoyle stated she is committed to protecting Social Security. “While Congressional Republicans continue to threaten cuts to Social Security, I am proud to join Senator Sanders, Senator Warren, and Representative Schakowsky in introducing a concrete proposal that extends the program for another 75 years by having millionaires and billionaires pay their fair share like every other working American.”
Sen. Sanders, who has been sponsoring this bill for years, reiterated that sentiment stating: “The legislation we are introducing today will expand Social Security benefits by $2,400 a year, lift millions of seniors out of poverty, and extend the solvency of Social Security for generations to come by making sure that the wealthiest people in our society pay their fair share into the system. Right now, a billionaire pays the same amount into Social Security as someone who makes $176,100 a year. Our bill puts an end to that absurdity. And by doing that, we can expand Social Security benefits and make sure that Social Security can pay out every single benefit owed to every eligible American for the next 75 years.”
Our Mission
The Seniors Trust is dedicated to ensuring the passage of the Social Security Expansion Act. We believe it is essential for the financial future of American retirees. This comprehensive piece of legislation seeks to reform Social Security the right way: by expanding and strengthening benefits proven to reduce senior poverty and improve retirement security as well as extending the solvency of this crucial program.
