This upcoming Sunday, the people of Venezuela will hold an election that, if legitimate, would put an end to years of the oppressive Maduro narco-regime. U.S. Senator Marco Rubio (R-FL) issued a statement in support of the Venezuelan people: “The...
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Rubio: “La Tenacidad y Valentía del Pueblo venezolano Estarán a la Vista”
Este próximo domingo, el pueblo venezolano tendrá una elección que, de ser legítima, pondría fin a años de opresión por parte del narco-régimen de Maduro. El senador estadounidense Marco Rubio (R-FL) grabó un mensaje de video en español y emitió una declaración en...
Rubio, Scott, Colleagues to Biden Admin: No Privileges Should Be Given to 9/11 Terrorist
Twenty-three years ago, the United States was attacked by Islamic terrorists on September 11, 2001. Now, Zacarias Moussaoui, the only person convicted in a U.S. court for his role in the attack, has requested the U.S. Department of Justice to allow a prisoner transfer...
Next Week: Rubio Staff Hosts Mobile Office Hours
U.S. Senator Marco Rubio’s (R-FL) office will host virtual Mobile Office Hours next week to assist constituents with federal casework issues in their respective local communities. These office hours offer constituents who do not live close to one of Senator Rubio’s...
Rubio, Colleagues Introduce Ensuring Continuity in Veterans’ Health Act
As the U.S. Department of Veterans Affairs (VA) opens up new facilities, many veterans are losing access to the VA’s Community Care Program and, consequently, their long-term healthcare providers. Veterans throughout the country have reported a loss of care, including...
Rubio Introduces Bill to Strengthen U.S.-India Security Partnership
The U.S.-India partnership is vital to countering influences from Communist China. In order to strengthen this partnership, it is essential to enhance our strategic diplomatic, economic, and military relationship with New Delhi. U.S. Senator Marco Rubio (R-FL)...
Saving Social Security in the 21st Century
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With Americans now living longer than ever before, the strain on Social Security’s finances is steadily increasing. We also have too few workers paying into the Social Security program, leaving it unable to fully finance the benefits promised to retirees. This is exacerbated by the fact that the labor-force-participation rate is lower than it has been in over 30 years. As a result, the Social Security Disability Insurance Trust Fund will have its reserves depleted as early as next year. When this happens, the fund will only be able to provide 81 percent of scheduled benefits. Avoiding a cut in benefits will cost nearly $30 billion a year. Congress must act to avoid an automatic cut in benefits for disabled Americans.
Social Security is too important for us to allow it to decay any further. We must transform this endangered system into a modern program that can meet the needs of our people in the 21st century. To this end, I have proposed several reforms to sustain and modernize Social Security, and help people plan for their retirement.
First, we must gradually increase the retirement age for individuals under 55, without changing it for current seniors like my mom. It is important that we keep our promises to current beneficiaries and those nearing retirement, but for Americans closer to my age, we need to have an honest conversation about saving Social Security. With the average American working longer than when Social Security was first conceived, it’ll take some changes to keep Social Security solvent and responsive to Americans’ needs.
Second, we should do more to protect seniors on the bottom of the income scale, who are too often consigned to poverty in old age. This can be done by reducing the growth of benefits for upper income seniors while making the program even stronger for lower-income seniors. This is not a cut, but simply a reduction in the growth of benefits for wealthier retirees.
Finally, we must empower our people to save more for retirement. Social Security should be one component of retirement security along with employment-based plans and personal financial assets like IRAs, mutual funds, and personal savings accounts. Americans should also be able to save for retirement without paying taxes on their retirement investments. My tax-reform plan eliminates taxes on interest, capital gains and dividends. Educating Americans on the benefits associated with retirement saving and planning is also important.
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