On the very first day of the new Congress, Republicans actually went there – they launched a sneak attack on Social Security: With a little-noticed proposal, Republicans took aim at Social Security on the very first day of the 114th Congress. The incoming GOP majority approved late Tuesday a new rule that experts say could provoke an unprecedented crisis that conservatives could use as leverage in upcoming debates over entitlement reform. The largely overlooked change puts a new restriction on the routine transfer of tax revenues between the traditional Social Security retirement trust fund and the Social Security disability program. The transfers, known as reallocation, had historically been routine. (source) This action could lead to a cut of 1/5 in the benefits of Social Security disability recipients, and allow the GOP to hold Social Security hostage to further, broader cuts.
Posted on: Wed, 07 Jan 2015 22:46:29 +0000
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