Sen. Max BaucusMax BaucusBusiness groups express support for Branstad nomination The mysterious sealed opioid report fuels speculation Lobbying World MORE (D-Mont.), the chairman of the Senate Finance Committee, said Tuesday that Social Security should not be part of current efforts to reduce budget deficits.
At a Finance hearing, Baucus said that Social Security “is an issue that should be addressed sooner, rather than later, to give workers time to plan for any changes.”
“But the current situation does not necessitate rushed or severe action,” added Baucus, who is one of the bipartisan group of lawmakers discussing deficits with Vice President Joe BidenJoe BidenBiden: We need Canada 'very, very badly' The Hill's 12:30 Report Clinton reappears on Capitol Hill for Reid send-off MORE. “Our deficit and debt, on the other hand, is clearly a crisis.”
But the Montana Democrat appears to be laying down another marker in advance of the second installment of the Biden talks, which are set for this afternoon. A Senate Democratic aide said that Baucus wants any Social Security fixes off the table when it comes to budget deficits.
For its part, the Gang of Six, the bipartisan group of senators using the fiscal commission's plan as a guidepost, could include Social Security in whatever plan they produce.
By and large, Social Security is not seen as being as large a long-term fiscal problem as other entitlement programs, like Medicare and Medicaid.
But Baucus’s comments underscore that Democrats and Republicans could also have a hard time coming together on Social Security.
Top Democrats, like Senate Majority Leader Harry ReidHarry ReidThe Hill's 12:30 Report Emanuel flips the bird when asked about 2020 Feinstein after dinner with Clinton: She has 'accepted' her loss MORE (Nev.) and New York Sen. Charles SchumerCharles SchumerSenate Dems hold out on spending deal, risking shutdown Dems see ’18 upside in ObamaCare repeal Confirm Gary Richard Brown for the Eastern District of New York MORE, have also said that Social Security should be removed from deficit-reduction discussions.
But on Tuesday, Sens. Orrin HatchOrrin HatchTax reform: Starting place for jobs, growth Overnight Finance: Senate Dems dig in as shutdown looms | Trump taps fast-food exec for Labor chief | Portland's new CEO tax Mnuchin, Price meet with GOP senators MORE (R-Utah) and Pat Toomey (R-Pa.) did not seem so sure of that.
Toomey told reporters that he was surprised by Baucus’s comments, calling Social Security the easiest of the entitlements to fix.
And Hatch, the ranking member on Senate Finance, said at the Tuesday hearing that the Social Security Trust Fund took in less than it paid out last year.
“If someone wants to tell me that question has nothing to do with the current deficits and debt, I think I’ve got a fine old bridge linking Manhattan and Brooklyn that I’d like to sell you,” Hatch said.
For his part, Baucus on Tuesday also called Social Security benefits “modest” and said they are already scheduled to be reduced, with the retirement age currently rising toward 67. The Finance chairman said a one-year boost in the retirement age was essentially a 7 percent decrease in benefits.