More than 150 Democrats have formed a new caucus in Congress. It’s called the Expand Social Security Caucus. Connecticut Congressman John Larsen, one of the caucus leaders, says his party wants to protect the social safety net that comes out of workers’ paychecks.
“I don’t know what’s going on with the other side that they have this weird notion that for some reason they think that Social Security is an entitlement. Newsflash, it’s not an entitlement, it’s the insurance that you paid for.”
Massachusetts Senator Elizabeth Warren and Senator Bernie Sanders of Vermont are also leading the charge.
Sanders says the caucus will fight to protect and expand social security benefits.
“What you have got to do is lift the cap on social security taxation right now. It’s absurd that someone who is making $30 million a year contributes the same amount into Social Security as someone who is making $128,000.”
The caucus was launched in part to combat Republican President Donald Trump’s claims that Democrats want to make cuts to Social Security.
This year’s Social Security Trustees Report warns that the fund may run out of money by 2034 if nothing is done.