Senate Dems propose Social Security reform

Sens. Patty Murray (D-Wash.) and Mark Begich (D-Alaska) introduced a bill to reform Social Security by increasing the payroll tax on the wealthy and expanding benefits to divorced couples and some college students.

“Social Security is one of the most important programs ever established in this country,” Begich said on the Senate floor Tuesday. “It is a promise to Americans that if you work hard all your life and contribute to the system then Social Security will be there for you in retirement to help you make ends meet.”

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The Retirement and Income Security Enhancements (RAISE) Act would raise the payroll tax by 2 percent on anymore making more than $400,000 a year and expand the distribution of benefits to divorced couples that were married for at least five years and children of retired or disabled deceased workers up to age of 23 as long as they’re full-time students.

“At a time when Social Security is an increasingly critical source of support for so many, the RAISE Act would make some commonsense updates to ensure our Social Security system is doing everything possible to help seniors and their families,” Murray said. “We should absolutely make these critical changes to help ensure our Social Security system is meeting the needs of today’s workers and families.”

Begich vowed that as long as he’s in Congress he would work to make Social Security solvent. He faces a tough reelection race in November.