June 2nd, 2014|
Most Americans depend on the Social Security system as a resource for income and assistance if they become disabled. But budget shortfalls and a growing number of recipients have placed a strain on the Social Security Disability program.
To help address these issues, legislators have proposed creating a Social Security committee that will work to create solutions to the program’s problems. The proposal plans to achieve this by having a 13-member panel investigate the shortcomings of the program and create a list of suggestions that would remedy each issue.
The Washington Post states the goal is to create a 75-year sustained longevity for both Social Security Disability benefits 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 Fleschner, Stark, Tanoos & Newlin are here to help if you are considering applying for benefits or have a claim that has been denied in the past.