Protect and Enhance Social Security

Floor Speech

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Mr. HORSFORD. Mr. Speaker, I thank the gentleman from Connecticut (Mr. Larson) for bringing us together for this important Special Order and to thank him for his tremendous leadership on Social Security as the ranking member of the Ways and Means Subcommittee on Social Security and for introducing the Social Security 2100 Act, which I am proud to be an original cosponsor of.

Mr. Speaker, I rise today to speak about the urgent need for us to take action to protect and to improve one of the most important programs in our Nation, Social Security. It is shameful that it has been more than 50 years since Social Security benefits have been improved.

Social Security is vital to making sure our senior citizens, the disabled, and many children in Nevada and all across the country are able to keep a roof over their heads and to keep food on the table.

Mr. Speaker, there are 149,700 Social Security recipients in Nevada's Fourth Congressional District, which I am honored to represent. This includes 113,832 retirees, 8,380 children, 11,279 widows and spouses, and 16,209 disabled workers. Collectively, they receive $248 million in monthly benefits in our district alone.

When beneficiaries receive their Social Security checks, what do they do? They turn around and spend that money in our communities, helping to churn the local economic engine.

I know some of my colleagues on the other side will say we can't afford it. Well, the truth is, we can't not afford it. By simply ensuring millionaires and billionaires pay just their fair share of FICA that everyone else who works every day does, we can absolutely afford it. With these funds, we can increase benefits for all recipients by 2 percent, which would be the first general increase in Social Security in over 52 years. You tell my constituents we can't afford it, and meanwhile they are struggling to afford their rent and their food.

Something else that I hear a lot about from my constituents is the fact that this bill, as proposed by Congressman Larson, repeals the Windfall Elimination Provision, the WEP, and the Government Pension Offset that currently penalizes many workers who have worked in the public sector, including teachers in Nevada.

Mr. Speaker, I have one of the most diverse districts in the country, and I also have a significant military presence and many veterans who live in my district.

Social Security's progressive benefit formula is particularly important for groups that tend to earn lower wages during their working lives, which include African Americans and Latino families. For example, in 2020, average earnings were about $41,000 for African Americans and $38,000 for Hispanics.

The progressive formula means benefits replace a higher share of preretirement earnings for low-wage workers.

People of color are less likely to work for employers who offer pensions and less likely to receive pension benefits in retirement, which weakens their security.

In 2014, 30 percent of African American seniors, 19 percent of Latino seniors, and 25 percent of Asian American seniors received income from pensions or retirement benefits other than Social Security. This compares to 47 percent of White seniors.

Mr. Speaker, many of the Latino and Black seniors in my district and all across the country rely on Social Security for all or nearly all of their income.

After decades of hard work, they deserve the benefits that they have earned, and they deserve a program that keeps their benefits in line with inflation and the cost of living.

By preserving and expanding benefits, Social Security 2100 would increase retirement security for people of color who have worked hard and who depend upon Social Security in their retirement.

Finally, Mr. Speaker, nearly one in five adult Social Security beneficiaries are veterans. Military servicemembers pay FICA, earning future retirement, survivor, and disability benefits. Seriously injured veterans may be eligible for Social Security disability benefits.

Over 8 million veterans received Social Security benefits in 2022. This is more than 5.41 million veterans who received disability compensation from the Department of Veterans Affairs.

The Social Security 2100 Act will extend the Social Security trust fund until 2066 and increase benefits for every recipient.

Only we, the Congress, can make the necessary changes to protect and enhance Social Security, and we must take that action.

I look forward to working with my colleagues on this side of the aisle to put people over politics and to protect Social Security.

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