Social Security is a Financial Lifeline for Millions of Older Americans

Social Security benefits lift more people above the poverty line than any other program in the United States. According to a report from the Center on Budget and Policy Priorities, without Social Security, 23.5 million more Americans would live below the poverty line — and the majority of those are retirees. Data shows that Social Security lifts nearly 17 million adults aged 65 and older out of poverty.

These figures illustrate the critical need to preserve our Social Security program. It is facing a budget shortfall, and drastic benefit cuts will come if Congress does not act now to save Social Security.

All of us here at The Seniors Trust are committed to improving the financial well-being of older Americans by passing the Social Security Expansion Act. This landmark bill promises to ensure the long-term solvency of the Social Security program, while also giving retirees an immediate benefits increase of about $200 a month, a fair annual cost-of-living adjustment (COLA), and increased minimum benefits.