Bernie Sanders Introduces Bill To Increase Social Security Benefits
Senator Bernie Sanders has introduced legislation to increase Social Security benefits for poor Americans and make wealth high-income Americans pay more into the Social Security system.
“Anyone who tells you Social Security is going broke is lying,” Sanders said. “We can increase Social Security benefits for millions of Americans and extend the life of Social Security if we have the political will to tell the wealthiest Americans to pay the same rate as everyone else.”
Sanders’ bill would increase Social Security benefits for seniors who make less than $16,000 by about $1,300 per year. And to pay for it, the bill would increase the taxes paid by taxing income over $250,000 to Social Security payroll tax.
According to a report from the Social Security Administration, Sanders’ legislation would extend the solvency of Social Security through 2078.
The legislation Sanders introduced would increase monthly payments for most beneficiaries by $43 per month starting at age 80 and $73 at age 90.
