Third Way Statement on Delaney-Cole Bipartisan Bill to Create Social Security Commission
March 24, 2015
Third Way issued this statement today on legislation introduced by Reps. John Delaney and Tom Cole creating a Social Security Commission. Jim Kessler, Third Way’s Senior Vice President for Policy said:
"In this period of divided government, it is commendable when policymakers reach across the aisle to find common ground. And when those members not only seek bipartisan compromise, but also seek to solve the nation’s most challenging issues, it is particularly noteworthy.
Experts on the right and left concur that Social Security must be fixed for future generations. There are many separate plans to do so, but only one that will actually get it done: through a bipartisan Social Security commission. By re-introducing legislation establishing a commission today, Representatives John Delaney (D-MD) and Tom Cole (R-OK) have shown that they are serious about solving the most difficult challenges and that they remain committed to working across the aisle in order to fix America’s most important safety net program.
Action on their bill cannot happen soon enough, as the Social Security Disability Insurance (SSDI) trust fund will be insolvent as early as next year. Unless Congress acts, current law will require an immediate benefit cut—projected to be 19%—for all disabled workers, their spouses, and their children at some point in 2016. Social Security’s retired and survivors of American workers will also face insolvency issues and benefits cuts in less than 20 years if no changes are made to the broader program. And every year we wait, Social Security fixes become more expensive.
With the Delaney-Cole legislation, there is now a clear—and most importantly, viable—path forward to fixing one of our most pressing policy issues. A commission offers a transparent, inclusive, and bipartisan path to a solvency plan and a filibuster-proof up-or-down-vote. It allows all ideas to be heard. We urge members of Congress of both parties and the President to support this common-sense path forward."
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