Most Americans depend on the Social Security system as a resource for income and assistance if they become disabled. However, budget shortfalls and a growing number of recipients have strained the Social Security Disability program.
To help address these issues, legislators have proposed creating a Social Security committee to develop solutions to the program’s problems. The proposal plans to achieve this by having a 13-member panel investigate the program’s shortcomings and list suggestions to remedy each issue.
The Washington Post states the goal is to create a 75-year sustained longevity for Social Security Disability and retirement benefits.
Solutions to Social Security insolvency have been proposed in the past but have received the cold shoulder from lawmakers. The most recent proposed changes came in 2010, which included:
- Raising the taxable income amount to 90 percent
- Slowing down cost-of-living-adjustments (COLAs)
- Increasing the retirement age
Our Social Security Disability attorneys at the law firm of Newlin Disability are here to help if you are considering applying for benefits or have a claim that has been denied in the past.
