Mexican tomato exporters are conducting unfair trade practices and dumping tomatoes into the U.S. market, despite the 2019 Tomato Suspension Agreement. This is forcing American tomato farmers out of business and destroying the domestic tomato industry. U.S....
U.S. Senator Marco Rubio’s (R-FL) office will host in-person and 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...
El senador estadounidense Marco Rubio (R-FL) habló con Nio Encendio de Maxima 92.5 de Tampa Bay, sobre cómo la inflación ha impactado a las familias, sobre las olas de migración ilegal, sobre el juicio político de Biden vs. el de Trump, sobre el canje de prisioneros...
This year alone, U.S. Customs and Border Protection (CBP) has encountered an estimated 40,000 Chinese nationals along the U.S. northern and southern border. The Biden Administration has left the border wide open, allowing potential spies from the Chinese Communist...
Gotion, Inc., a Chinese company and U.S. subsidiary of Guoxuan High-Tech, announced a lithium battery plant in Illinois that is expected to open next year. This CCP-tied battery company is expected to benefit from green-energy tax breaks under the Democrats’ Inflation...
U.S. Senator Marco Rubio (R-FL) joined National Public Radio’s All Things Considered to discuss his plan to expand the child tax credit for working families. See below for the full transcript and listen to the edited interview here. On the connection between the child...
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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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