YES! $500 Per Month INCREASE For Social Security Beneficiaries | SSA, SSI, SSDI Payments

Añadido: 2026-05-30

[00:00:00]A congressman is pushing for major changes to the Social Security program.

[00:00:05]1983 was actually the last time we had a major overhaul to the program, and even though it improved the solvency of Social Security and prevented benefit cuts from taking place, you could actually argue that 1983 was a bad year for Social Security as it also did some very negative things such as raising of the full retirement age, and of course, in addition to that, it also taxed a portion of your Social Security benefits. This time around though, the congressman and John Larson wants to increase Social Security benefits across the board so actually improve the program on top of improving the solvency as well. And for some, what this increase could mean is an increase close to $550 per month. This would be absolutely huge. It also, on top of that, do things such as provide caregiver credits for moms staying at home and being out of the workforce or, you know, parents caring for their elderly parents, and many other great benefits on top of that. So, let's go ahead and dive into it for today. So, once again, Congressman John Larson is pushing for a major overhaul to the Social Security program. He wants to ensure that benefits benefit cuts do not take place come 2031 and 2032 because right now, if Congress does not act, there is going to be an automatic benefit cut taking place of up to 26%.

[00:01:29]This would be absolutely devastating.

[00:01:31]So, John Larson wants to make sure that does not happen. And on top of that, he actually wants to make the program improve the program for the better. He wants to increase benefits. He wants to increase cost-of-living adjustments. How exactly is he going to do that though?

[00:01:45]We are going to discuss that in today's video. And at the same time, he's really been tearing into Republicans and Democrats for not working together and coming together on a common issue of improving, and changing, and fixing Social Security for the better. So, let's go ahead and dive into it for today. So, once again, this is John Larson's Social Security 2100 Act up in the screen. We're going to show a few things that this bill will do.

[00:02:10]So, first off, it increases benefits by 2% across the board for all Social Security beneficiaries for the first time in 52 years. You might be thinking, "2% is not a huge increase." And sure, you might be right, but 2% is certainly better than nothing at all. It also improves the cost of living so it reflects the inflation actually experienced by seniors. So, they're going to be moving that from the CPIW over to the CPIE, so you should typically see a larger increase each year. And it also increases benefits to boost lower-income seniors. So, basically, what they're going to be doing with that is they're going to be taking anyone currently receiving the special minimum benefit, and they're going to be boosting their benefits to 25% above the federal poverty line. That, of course, is going to work out to an increase of right around $550 a month. So, you can see up on the screen right now, the current special minimum benefit is right around $13,406 per year. With the proposed 125% above the federal poverty line, it's going to be $19,950 per year. That would equate to an additional $6,544 per year or $546 $546 per month. This would be absolutely huge. Now, on top of that, it's also going to restore student benefits up to age 26 for the dependent children of disabled, deceased, or retired workers.

[00:03:28]It's going to increase access to benefits for children living with grandparents or other relatives. It's going to repeal the WEP and GPO that currently penalizes many public servants. That has already been done in the Social Security Fairness Act, so they would need to remove this from the bill since it has already been passed.

[00:03:46]They would also end the 5-month waiting period to receive disability benefits.

[00:03:49]It It increase benefits by an additional 5% for the most elderly who have been receiving benefits for 15 years or more.

[00:03:56]It would It would provide caregiver credits to ensure that people are not penalized in retirement for taking time out of the workforce to care for children or other dependents. This would be another great thing for moms or dads who decide to take time off of work to care for their children and they would not be penalized by losing those work credits. On top of that, it would also end the disability benefit cliff replacing with a gradual offset for earnings. It would cut taxes for 23 million middle income beneficiaries. It would correct an unintended flaw in how Social Security benefits are wage indexed to prevent benefits from dropping a notch if the wage index decreases. It would ensure that these benefits do not result in reduced SSI payments or a loss of eligibility for Medicare or chip. It would combine the OASI and the disability insurance trust funds into one fund to ensure seamless benefit payments. And finally, they provide the Social Security Administration with resources to improve customer service. And you might be wondering how exactly do they plan to do all this? Basically, they're just going to be taxing those earning $400,000 or more per year by closing that loophole where you only have to pay taxes into the Social Security trust fund on the first $184,000 or so that you earn each and every year.

[00:05:14]So, you can you can see up here that they're going to ensure that millionaires and billionaires pay their fair share by applying FICA to earnings $400,000 per year with those earnings with those extra earnings counted towards a towards benefits at a reduced rate. They would also be closing the loophole of avoiding FICA taxes and receiving a lower rate on investment income by adding an additional by by adding an additional 12.4% net income net investment income tax only for taxpayers making over $400,000 per year. And again, we have, you know, John Larson absolutely tearing into Republicans and Democrats for not working with him on this. This go ahead and roll the clip. Well, here we here we are again. And uh when we talk about elephants in a room, this is like having a Tyrannosaurus Rex in the room.

[00:06:05]Uh we're here talking about disability benefits and Social Security.

[00:06:12]We have yet to take up anything on Social Security in this committee that will directly benefit the people that we're sworn to serve in every single one of our districts.

[00:06:32]This is neither Democrat or Republican.

[00:06:36]It's about the American people.

[00:06:40]And however well-intended the notions may be with this bill. And I do believe that my colleagues on the other side are both well-intended and good people, but it's not an excuse for not facing the reality that the Social Security Trust Fund will soon report again with 10,000 baby boomers a day becoming eligible that Congress stands idle and does nothing to help these people.

[00:07:20]Everyone bemoans the fact of the global economy that we're in and what's happening to people in this economy. And here we stand, the body that can do something about it to the people who are impacted the most.

[00:07:38]And those people are people on fixed incomes.

[00:07:44]For the record, Mr. Smith, I have Ways and Means list of uh of all the members of the committee and the Republican committees, all the social security data. And I'd like to submit this for the record. Without objection. Thank you. And as an example, I wanted no personal thing here, Mr. Chairman, but as the chairman of the committee, I wanted to represent these.

[00:08:11]I send these out to every member of Congress.

[00:08:15]This one needs to be updated because in Missouri actually social security benefits have uh grown.

[00:08:25]They're no longer 189,000 recipients, they're at 204,000.

[00:08:31]And it no longer has 280 coming in in monthly benefits, it's 347 million dollars that's coming in.

[00:08:42]Congress has still done nothing about this. You're asking us to deal with an amendment here that is minuscule and does nothing to address this problem.

[00:08:56]30,000 30,000 disability people with disabilities die waiting to get their benefits annually.

[00:09:11]30,000 die annually waiting to get their benefits, and this is the best the Ways and Means Committee can do?

[00:09:21]Come on.

[00:09:23]You're better than that.

[00:09:25]All of us, America deserves better than this.

[00:09:29]This amendment is nothing but another way to say, "Oh, we're working on this and trying to do something about Social Security disability when 30,000 people are going to die?

[00:09:43]You're better people than that.

[00:09:47]This is why this issue needs to be addressed and needs to be taken up now.

[00:09:52]Not only are 10,000 baby boomers a day become eligible, but for 40 million Americans, this is the only benefit that they have.

[00:10:05]And yet this committee, the committee of cognizance, the committee that can do this and deliver for the American people, all people, not Democrats, Republicans, or unaffiliates, but all the people who have contributed to the nation's number one anti-poverty program for the elderly and for children, and the disability that more veterans rely on and were turned away, and this is all we have to offer in this committee?

[00:10:35]You're good people. You know that this is wrong. You know that we have to address this issue.

[00:10:44]This amendment doesn't do that, and I urge an an no vote.

[00:10:49]Okay, so that's right there is John Larson saying that we need to work together. This is not a Republican issue, this is not a Democrat issue.

[00:10:57]This is absolutely for the American people improving Social Security and making it for the better. So with that said, leave your thoughts and comments below. What do you think about this idea? Do you like it? Any changes you would like to see? Drop your comments below, but that's all we have for today's video, and I will see you in the next one.