Social Security Shocker For 2022
This is big!
If you are having a bad day this will surely cheer you up!
The Social Security Administration recently told seniors that because of this year’s high levels of inflation, the government will now raise their social security payments by 5.9% in 2022 making it the greatest increase in the last four decades.
Now a new bill which has just been introduced to Congress aims to raise your benefits even higher!
According to Fox, House Ways and Means Social Security Subcommittee Chairman John Larson introduced “Social Security 2100: A Sacred Trust” bill to Congress recently.
The bill will expand Social Security benefits and will prevent the program from running out of money as well. On top of that Larson’s plan will increase benefits by 2% for the average beneficiary.
In a statement, Larson stated, “Social Security 2100: A Sacred Trust will expand benefits and strengthen Social Security. The pandemic has only underscored what we already knew and has exacerbated systemic inequities – current benefits are not enough. Five million seniors are living in poverty due to longstanding discrimination in the labor force that affects mostly people of color and women.”
“These are our sisters, brothers, aunts, uncles and neighbors,” Larson added. “For too long, Congress has forsaken its duty to enhance benefits. With 10,000 Baby Boomers a day becoming eligible, and with Millennials needing Social Security more than any generation, the time for Congress to act is now.”
