Top House Republicans want to raise the retirement age for Social Security benefits to protect the program from its 2033 bankruptcy deadline.
Republican Study Committee (RSC) Chairman Kevin Hahn (R-Okla.) released a budget last month that includes conservative proposals to cut federal spending and extend the life of Social Security. If nothing is done, critical programs will face cuts of about 20% in 2034.
One option advocated by Mr. Hahn is to raise the age for full retirement benefits from 67 to 69, a politically risky idea that mainstream leaders of both parties have warned I didn’t try to touch it.
“If you look closely, there are only three choices you can make to fix Social Security… one is to adjust your age, two is to adjust the amount you get paid out of the program, and third is… work. That means more people are paying into the program,” Hahn said.
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Kevin Hahn, chairman of the Republican Research Committee, is promoting the group’s proposal to expand Social Security’s solvency. (Bill Clark/CQ-Roll Call, Inc, via Getty Images)
Regarding the issue of age in particular, Hahn pointed out that when Social Security began, the average life expectancy in the United States was in the early 60s. Currently, the average life expectancy is in the late 70s.
“That’s why you’re alive. [more] We have been working for years on a program that was not designed to do that,” Hahn said.
The RSC is a large bloc of conservative House Republicans, making up about 80% of the conference.
The White House used the group’s budget proposal as a political bludgeon, accusing Republicans of trying to water down Social Security.
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Social Security is projected to become insolvent by 2034 if nothing changes, meaning the program could be cut by about 20%. (Fox News)
“This is yet another failed attempt by Joe Biden to sideline an issue that is so important to retirees,” Hahn said on Fox News Digital about the backlash. “Our budget does not affect retirees or people nearing retirement.”
He added: “If I told you today at your age that I was affected when I was 21, you would think I was going to delay my retirement age by two years, but then… That won’t happen,” he added. “
Biden’s own fiscal year 2025 budget proposal called for increasing taxes on high-income earners to expand Social Security’s ability to pay. But Hahn insisted that “the best estimates are that it will be extended by a year.”
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In public, the president has largely avoided discussing solutions to prevent Social Security from collapsing. Former President Donald Trump, Biden’s likely Republican opponent in the 2024 presidential election, is also unclear about his own position on the program.
President Biden has seized on Republicans’ proposed Social Security extension, accusing them of trying to water down the program. (AP/Evan Vucci)
Debate over retirement reform is often politically risky, especially in an election year.
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Hahn insisted that any changes would have to be bipartisan and said he was talking to Trump about what to do if he regained the White House.
“The reality is that President Trump is no different from any of us,” Hahn said. “We’ve talked about this with him and myself and his team. We don’t want to cut any benefits, and we don’t have any intention of doing so.” [for anybody who is] He is retired or close to retirement, but both he and the team understand that we have to make sure that’s true.”
Asked for comment, Trump campaign spokeswoman Caroline Leavitt told Fox News Digital: “As President Trump has repeatedly stated, he does not support cutting Social Security or raising the retirement age. President Trump. has fulfilled its promise to protect social security.” Having strengthened Social Security and Medicare in his first term, President Trump will continue to provide strong protections for Social Security and Medicare in his second term. ”
