LAS VEGAS (KLAS) — Several thousand baby boomers are becoming eligible every day for Social Security — and as the cost of living increases, Nevada Democratic Rep. Steven Horsford is among 200 members of Congress who support a bill to increase the amount of money paid to America’s seniors.
The bill, called Social Security 2100, would increase Social Security benefits for seniors and keep the system funded for generations to come, Horsford said.
“The Social Security 2100 Act would increase Social Security benefits, protect against inflation, and modernize Social Security to ensure that government employees, caregivers, people with disabilities and surviving spouses and children receive the benefits they deserve,” the congressman said.
On average, Social Security recipients receive $1,400 a month. The plan would increase those payments as inflation bumps up the cost of living.
“It doesn’t matter if you are a Republican or an Independent or a Democrat, if you have paid into Social Security over your lifetime you deserve the promise of that benefit and to be able to retire with that sense of security and stability,” Horsford said.
According to Horsford’s office, the increases in benefits would be paid for with a change to the payroll tax, only affecting people making $400,000 or more a year.
If this bill passes, it would be the first major change in the Social Security system in 50 years, Horsford said.
A representative for the Republican National Committee did not return a request for comment.
Previous versions of the Social Security 2100 Act have been introduced each Congress since 2014 and have failed to move out of committee.