WASHINGTON — A new budget proposal from a large and influential group of House Republicans includes raising the Social Security retirement age and restructuring Medicare for future retirees.
The proposal is unlikely to pass this year, but it reflects how many Republicans will seek to govern if they win the 2024 election.and they fight President Joe Biden Seeking a relationship with the former president donald trump and Republicans seeking re-election.
of The budget was released by the Republican Study Committee on Wednesday., a group of more than 170 House Republicans, including many allies of Republican presidential candidate Donald Trump. Apart from fiscal policy, the budget approves a series of bills “aimed at advancing the cause of life.” These include aggressive restrictions on abortion and potentially life support laws. threaten in vitro fertilization, or in vitro fertilization, is carried out by establishing legal protection for humans at the “moment of fertilization”.it’s recent caused confusion The backlash against the Alabama Supreme Court’s ruling that threatened in vitro fertilization has sparked a backlash within the Republican Party.
The RSC is chaired by Rep. Kevin Hahn (R-Okla.), and its members include House Speaker Mike Johnson (R-Louisiana) and the top three leadership aides. . Mr Johnson served as chair of the RSC from 2019 to 2021. His office did not immediately respond to questions about the new budget.
Regarding Social Security, the budget authorizes “moderate adjustments to the retirement age of future retirees to account for increased life expectancy.” It calls for cuts in benefits for the highest-income beneficiaries. It stressed that these ideas are not designed to take effect immediately, saying: “The RSC budget does not reduce or delay retirement benefits for seniors in or nearing retirement.” It is said that
The new budget also calls for converting Medicare to a “premium support model,” echoing a proposal by the former Republican chairman. paul ryan was rallying support for. Under the new RSC plan, traditional Medicare would compete with private plans and beneficiaries would be given subsidies to buy the insurance of their choice. The size of the subsidy could be fixed at the “average premium” or “second lowest price” in a given market, according to the budget proposal.
The plan became a flashpoint in the 2012 election, when Ryan was Republican presidential candidate Mitt Romney’s running mate, and President Barack Obama accused it of “ending Medicare as we know it.” did. Ryan championed it as a way to improve Medicare’s funding base, and most of his party supported him.
Medicare is projected to fail in 2028 and Social Security in 2033. After that, your benefits will be forcefully reduced unless your income increases.
Biden has slammed Republican proposals for the retirement system, promising not to cut benefits and instead proposing in a recent White House budget to cover future shortfalls with higher taxes on high-income earners. There is.
The RSC budget is also a challenge for President Trump. changing rhetoric About Social Security and Medicare without presenting a clear vision For the future of the program.
Notably, the RSC budget lays out three possible options for dealing with the anticipated collapse of the retirement system: increasing taxes, transferring money from the general fund, and spending to make up the shortfall. It is a reduction.
The first two options are rejected.
“Raising taxes on people will further punish them and put a strain on the economy as a whole, as our spending and printing system has proven to be disastrous and regressive,” the budget statement states. The group also “opposes a multi-trillion dollar general fund,” he added. This is a move that will worsen the financial situation. ”
That would reduce spending.
The RSC’s budget launches a fierce critique of Obamacare, calling for cuts to subsidies and regulations aimed at expanding insurance coverage.
This article was first published NBCNews.com
