In Social Security, we’ve made an important promise to America’s seniors that I am committed to uphold. We must protect and secure Social Security for generations to come.
With a population that is living longer, Social Security’s solvency has become a more pressing issue. According to the Social Security Board of Trustees, the Social Security trust fund will begin to decline in 2021, and by 2033, Social Security will only be able to pay 75 percent of its promised benefits.
While any changes in the way Social Security operates must be approached with extreme caution, the current system is unsustainable over the long-run and requires reforms to ensure Social Security remains solvent for tomorrow’s retirees.
Government Pension Offset (GPO) and Windfall Elimination Provision (WEP)
Many teachers and other public servants in Texas fail to receive the Social Security benefits they are entitled to because of Social Security’s Government Pension Offset (GPO) and the Windfall Elimination Provision (WEP). These formulas result in an unfair and arbitrary reduction in benefits for those who work in a job that has a Social Security substitute, such as state public pensions. These programs can also impact the spouses of public servants and teachers.
As a former teacher and the daughter of an educator, I personally understand this problem. During my time in Congress, I am proud to have cosponsored numerous bills to eliminate the GPO and WEP formulas and I promise to continue to support efforts to change the current law so hard-working Texans are not unfairly penalized.
More on Social Security
The bipartisan Joint Select Committee on Deficit Reduction – better known as the “Super Committee” – is in full swing. The committee has met twice so far, and just held their first hearing on Tuesday. They have their work cut out for them over the next few months. Here are some important dates to keep in mind as the Super Committee does its work:
November 23: Deadline for Super Committee to vote on legislative proposals
December 2: Deadline for Super Committee to formally submit legislation to Congress
I have heard from many friends and constituents with questions about the new Budget Control Act. This bill is so important, I want to clear up any misinformation and make sure you have the facts. That’s why I’m going to send you a series of email newsletters explaining the different parts of this legislation.
The fight we are going through with the President on the debt ceiling should not result in a one-year bandaid for our fiscal problems. This is an opportunity for Congress and the President to come together and create a serious, long-term solution to both our national debt and our spending problem.