Alaska Senator Introduces a Plan to Keep Social Security Solvent

Aug 22, 2014 | WC & Other Laws

Politician were mostly silent about any details regarding keeping Social Security solvent or privatizing the program during the 2012 election season. With the election season finally over, Alaska Senator Mark Begich (D) has introduced a bill to keep Social Security solvent. The Protecting and Preserving Social Security Act would lift the current cap and have all income subject to Social Security taxes. Currently only income up to $110,000 ($113,700 starting in 2013) is subject to Social Security taxes.

The Begich bill would keep the Social Security program solvent for about 75 years. The Strengthen Social Security Coalition, representing more than 50 million Americans, has endorsed the bill.

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