Media Advisory For: Tuesday, February 10th, 2015
Senator Bernie Sanders & Representative Jan Schakowsky to Hold Briefing: Rising Inequality and its Impact on Social Security
(Washington, DC) U.S. Senator Bernie Sanders (I-VT) and Representative Jan Schakowsky (D-IL) will join a briefing hosted by the Strengthen Social Security Coalition featuring Social Security experts discussing economic inequality’s impact on the Social Security system Tuesday, February 10 at 2:00pm.
The briefing will also feature the release of a new study by the Center for American Progress detailing how much inequality costs the Social Security system.
Decades of slow and unequal wage growth have led to a retirement income crisis for today’s workforce, making Social Security benefits more critical than ever. Due to the payroll tax cap, those who earn over $118,500 are exempted from contributing Social Security taxes above that amount. The wealthiest one percent of earners therefore stop paying into Social Security on February 11th.
Panelists will discuss options for reforming Social Security’s funding structure so that millionaires and billionaires pay their fair share into the system. They will also lay out proposals to alleviate inequality by expanding Social Security’s benefits.
What: Sen. Bernie Sanders, Rep. Jan Schakowsky and Social Security experts will hold a Budget Committee briefing to discuss the impact of inequality on the Social Security system, and proposals to address the situation.
When: Tuesday, February 10, 2015 at 2:00pm
Where: Senate Budget Committee Hearing Room
608 Dirksen Senate Office Building
Washington, DC 20510
- Senator Bernie Sanders (I-VT) – Ranking Member, Senate Budget Committee
- Representative Jan Schakowsky (D-IL)- Co-Chair, Congressional Task Force on Seniors
- Nancy Altman – Founding Co-Director, Social Security Works and the Strengthen Social Security Coalition
- Rebecca Vallas – Director of Policy for the Poverty to Prosperity Program, Center for American Progress
- Dean Baker – Co-Director, Center for Economic and Policy Research
- Monique Morrissey – Economist, Economic Policy Institute
- Max Richtman – President/CEO, National Committee to Preserve Social Security and Medicare