Rep. Thompson Hosts Discussion On Legislation To Improve And Protect Social Security With Benicia Seniors

Press Release

Today, U.S. Rep. Mike Thompson (CA-5) hosted U.S.
Rep. John Larson (D-CT) for a town hall meeting in Benicia to discuss the
Social Security 2100 Act (H.R. 1391), legislation that if enacted would provide
a benefit bump for current and future beneficiaries, cut taxes for Social
Security recipients, and keep the system strong for generations to come.

"I'm committed to keeping Social Security strong for generations," said Rep. Thompson. "That's why I'm a proud coauthor of the Social Security 2100 Act,
which not only improves benefits for today's seniors, but ensures that the
promise of Social Security will remain strong for our children and
grandchildren. Many thanks to my colleague John Larson from Connecticut for
flying out to Benicia to meet with our seniors and share more about
this important legislation."

"Social Security is a lifeline for millions, with two-thirds
of retirees relying on their benefits for most of their income. That's why I
introduced the Social Security 2100 Act to increase benefits, cut taxes, and
keep Social Security solvent for generations. I commend Rep. Mike Thompson for
his commitment to ensuring that hard working Americans who pay into the system
get the benefits that they've earned," said Rep. Larson.

Rep. Thompson is a coauthor of the Social Security 2100 Act, which
was introduced in the House of Representatives by Rep. Larson.

The Social Security 2100 Act provides the following:

Tax cut for over 11
million Social Security recipients by raising the threshold on taxation of
benefits
Benefit bump beginning
in 2016 for current and new beneficiaries
Protection for
low-income workers by raising the minimum benefit
Long term protection
against inflation for cost of living adjustments (COLA) by adopting the CPI-E
formula
Extends the solvency of
the program by extending the Social Security payroll tax to wages over
$400,000. Currently, the Social Security payroll tax only applies to wages up
to $118,500.

In Solano County alone, Social Security distributes benefits
amounting to about $765 million each year. With common sense steps like those
in the Social Security 2100 Act, Congress can boost this vital program now and
ensure Social Security remains strong well into the future. In fact, the
Social Security Administration's Chief Actuary issued areport verifying that the Social Security 2100
Act would keep the program solvent beyond the next seventy-five years.

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