Local-Based Social Security Benefits Act

Floor Speech

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Ms. MENG. Madam Speaker, I rise today to bring attention to the need to ensure that we protect the most vulnerable of Americans, our elderly, disabled and disadvantaged citizens, from the risk of living in poverty. Social Security was established 85 years ago, to provide a structure to maintain a collective sense of security amidst the expansion and development of our great Nation.

According to the Social Security Administration (SSA), about 63 million Americans received $1 trillion in benefits in 2018. SSA estimates that about one-third of beneficiaries depend on Social Security benefits for more than 90 percent of their retirement income. Furthermore, the number of Americans 65-and-older is projected to nearly double from 52 million in 2018 to 95 million by 2060; their total population will rise from 16 percent to 23 percent. Unfortunately, due to inflation and wide economic disparities by region, Social Security provides an uneven distribution of benefits across the country. As you know, New York City is one of the most expensive places to live in the nation, and many, especially seniors, battle with paying for even the most basic of necessities, including food and rent.

That is why I am introducing the ``Locality-based Social Security Benefits Act'', which would adjust the amount of monthly old-age, survivors, and disability insurance payments under Title II of the Social Security Act based on locality-based comparability payment rates.

Madam Speaker, Social Security is an important safety net that many Americans have come to rely upon as their main source of income. We must ensure that the quality of life is not dependent upon where our senior and disadvantaged citizens live in America. I urge my colleagues to support this legislation.

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