House conservatives proposed increasing the US retirement age for Social Security, giving Democrats ammunition for the upcoming 2024 election.
The House Republican Study Committee, consisting of 176 members, has put forward a proposal to gradually raise the retirement age, potentially reaching 69 years for individuals turning 62 in 2033. Currently, the retirement age for full benefits is 66, gradually increasing to 67.
House Republicans Clash on Social Security and Medicare
In the 2022 midterm election, Democrats successfully capitalized on similar proposals from fiscal conservatives. Their message highlighting the GOP’s intentions to target benefits for the elderly resonated with voters and helped limit the Democrats’ losses in the House.
Under this proposal, which is unlikely to become law, benefits for current retirees would not be reduced. However, those anticipating an earlier retirement would receive lower lifetime payouts. Although the group has dropped the idea of increasing the Medicare retirement age, they do aim to further privatize the program.
During the State of the Union address in February, President Joe Biden and House Republicans engaged in a heated exchange after Biden claimed that some GOP members supported cuts to Medicare and Social Security. Representative Marjorie Taylor Greene accused the president of lying, while others disputed his statement.
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Republican Study Committee’s Responsibility
Pennsylvania Democrat Brendan Boyle seized upon the proposal, criticizing Republicans for attempting to break their commitment to American workers and seniors.
Members of the Republican Study Committee stated that they have a responsibility to reintroduce this politically risky proposal, presenting it as a more sustainable alternative to leaving the programs untouched.
According to the group’s chairman, Oklahoma Republican Kevin Hern, failing to make changes to the program would eventually lead to a 23% reduction in Social Security benefits and an 11% cut in Medicare provider payments.
Hern argued that the proposal saves Medicare and Social Security from what he perceives as Biden’s detrimental plan.
The committee claims that their plan would balance the federal budget in seven years by cutting approximately $16 trillion in spending and $5 trillion in taxes. The proposal was approved by the RSC board, but its members did not vote on it.
Hern, who often acts as a mediator between House leaders and conservatives, expressed his expectation for the House to vote on the committee’s plan.
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