Federal Employees News Digest
Bill for one-time Social Security increase introduced in House
- By FEND Staff
- Dec 07, 2015
Lawmakers last week rolled out a House bill that would provide a one-time Social Security benefit boost to compensate for the lack of a 2016 cost-of-living adjustment for beneficiaries.
The Seniors and Veterans Emergency Benefits Act, introduced by Rep. Tammy Duckworth (D-Ill.), mirrors a Senate bill introduced by Sen. Elizabeth Warren (D-Mass.).
The legislation would close a loophole in the federal tax code that allows corporations to write off executive bonuses as business expenses. Sponsors of the bill say the move would save enough revenue to provide about $600 to each of an estimated 70 million veterans, seniors, disabled, and other Social Security beneficiaries, as well as help strengthen the Social Security trust fund in the future.
“Veterans know not to leave anyone behind, but without congressional action that’s exactly what our government will do to them—as well as millions of seniors and people with disabilities—at the end of the year,” Duckworth said in a statement. “I’m proud to work with Sen. Warren to ensure seniors and those who have sacrificed for our nation receive the respect and support they deserve.”
Cosponsors of the bill include Reps. Brad Ashford (D-Neb.), Brendan Boyle (D-Pa.), John Conyers, Jr. (D-Mich.), Raul Grijalva (D-Ariz.), Hank Johnson (D-Ga.), Patrick Murphy (D-Fla.), Jan Schakowsky (D-Ill.) and Debbie Wasserman Schultz (D-Fla.).
A range of labor unions, senior organizations and other groups have voiced support for the bill.
See more at: http://duckworth.house.gov/index.php/media-center/press-releases/759-duckworth-teaming-with-senator-elizabeth-warren-to-support-seniors-and-veterans.