https://www.yahoo.com/news/house-largest-conservative-caucus-calls-215226784.html
House’s largest conservative caucus calls for increase in retirement age
The Republican Study Committee (RSC), which comprises nearly 80 percent of all House Republicans, called for an increase in the retirement age in its budget proposal released Wednesday.
The RSC budget proposes raising that age for those who are not near retirement “to account for increases in life expectancy.” The budget did not provide specifics.
The budget also proposes limiting and phasing out auxiliary benefits for “high income earners.”
Without offering details, the RSC proposes “modest changes” to the primary insurance amount (PIA) benefit formula, which also would not apply to seniors near retirement, nor would it apply to the wealthiest earners.
The RSC repeatedly sounded the alarm in the budget proposal about the prospect of the Social Security fund becoming insolvent and called for a bipartisan approach to solving the issue.
“With insolvency approaching in the 10-year budget window, Congress has a moral and practical obligation to address the problems with Social Security,” the RSC proposal read. “These common-sense, incremental reforms will simply buy Congress time to come together and negotiate policies that can secure Social Security solvency for decades to come.”
The budget proposal, however, devotes significant space to railing against President Biden and his proposed tax policies, including rate hikes for the wealthiest Americans.
In releasing the budget report, the RSC sets up a potential clash with the White House, as President Biden has repeatedly tried to claim Republicans want to slash Social Security benefits.
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