Sen. Schatz Introduces Social Security Bill

Senator Schatz from Hawaii has, in cooperation with Senator Tom Harkin from Iowa, introduced a bill to expand Social Security benefits while changing the way in which inflation is calculated under the program to better reflect the costs of living faced by seniors.

This will amount to an increase in benefits of about $65 per person per month, and will remove the current Social Security wage cap.

Social Security reforms are currently being pulled in two different direction by those who believe the program needs strengthening to ensure a comfortable retirement for seniors and those that fear the program is already insolvent and that increased benefits will merely hasten its collapse. As such, any legislation on the issue is destined to face fierce opposition and debate, with results unlikely to be forthcoming in the near future.

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