Sen. Bill Cassidy accuses Biden of rebuffing bipartisan talks to save Social Security
Mr. Cassidy, a Louisiana Republican, said the White House’s stance was contrary to Mr. Biden’s public claims of being ready to work with Congress on protecting the retirement program.
The accusation came during a heated hearing of the Senate Finance Committee with Treasury Secretary Janet Yellen. Ms. Yellen told the panel that Mr. Biden stood ready to work with Congress on fixing Social Security, which is slated to run out of money by 2032.Mr. Cassidy characterized the claim as a “lie.” He’s leading a bipartisan group of senators crafting legislation to address Social Security’s funding problem.
The Congressional Budget Office’s latest estimate is that Social Security will be unable to pay full retirement and survivor benefits beginning in 2032. The program faces a shortfall as the U.S. population ages and birth rates remain low. Democrats for years have accused Republicans of wanting to cut Social Security and Medicare. As of late, they base the claim on a proposal last year by GOP Sen. Rick Scott of Florida that would have required all federal programs to be renewed every five years or risk expiration.
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