On Introduction of Rep. John Larson and Sen. Richard Blumenthal’s Social Security 2100 Act, IFPTE Requests Cosponsors for Legislation to Shore Up Retirement Security

This week, House Social Security Subcommittee Ranking Member John Larson, announced the Social Security 2100 Act, legislation that IFPTE has long championed as a “common-sense and fiscally responsible approach to making sure Social Security benefits provide meaningful economic support to Americans when they need them.”

IFPTE’s letter to Representatives reminded them that the Social Security 2100 Act “pays for itself by extending the payroll tax on earnings over $400,000 of income and closing the tax loophole for investment income while maintaining the current limit on annual earnings subject to Social Security taxes.“

The bill also repeals the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO) that unfairly reduce the earned Social Security benefits of more than 2 million public servants.

Read a PDF of IFPTE’s letter here.

Read Rep. John Larson’s press release from May, which quotes IFPTE President Matthew Biggs here.