Whitehouse’s Medicare and Social Security Fair Share Act would make Social Security solvent forever without shrinking benefits
Washington, DC – U.S. Senator Sheldon Whitehouse (D-RI) slammed comments made by the Trump administration’s Treasury Secretary Scott Bessentcalling the administration’s tax-deferred investment accounts a “backdoor for privatizing Social Security.”
“Secretary Bessent’s comments are the latest Trump administration attack on Social Security. Social Security is a sacred trust that hardworking Rhode Islanders paid into through their whole careers, but Republicans continue to be obsessed with handing seniors’ money off to private equity sleazeballs,” said Whitehouse, a founding member of the Expand Social Security Caucus. “Here’s how you fix Social Security and protect seniors’ benefits forever: you have the wealthy start paying their full fair share into the system.”
Whitehouse’s Medicare and Social Security Fair Share Act would protect the solvency of Social Security and Medicare for the foreseeable future by requiring the nation’s highest earners to contribute a fairer share of their income into the system. Whitehouse also cosponsored the Social Security Fairness Act, which was signed into law by President Biden in January. The legislation eliminated two policies that reduced Social Security benefits for public service employees.
Over 230,000 Rhode Islanders receive Social Security benefits.
