Schakowsky Statement on the Social Security and Medicare Trustees Reports

June 22, 2016
Press Release

WASHINGTON, DC - Today, Congresswoman Jan Schakowsky released thefollowing statement after the 2016 Social Security and Medicare Trustees reports were released:

“The reports released today by the Social Security and Medicare Trustees demonstrate that these two national treasures continue to serve Americans well and will be able to do so effectively for generations to come.  Social Security has over $2.8 trillion in reserves.  Medicare is in better shape than it was in 2009, before we passed the Affordable Care Act.  Neither is in crisis. 

“There is no excuse for those who are trying to use scare tactics to cut the earned benefits that seniors, people with disabilities and their families rely on for their financial and health security.

“Yet, House Republicans are trying to do just that.  The Republican health care proposal released today would raise the Medicare eligibility age to 67, increase out-of-pocket costs, and turn Medicare into a voucher program.  Half of those who rely on Medicare live on incomes of less than $24,500 a year.  They cannot afford Republican policies that would cut their Medicare benefits in order to pay for even more tax cuts for the wealthy and for highly-profitable corporations.

“Instead, we can make real improvements.   Today, workers pay Social Security taxes on the first $118,500 of wages.  By lifting that wage cap, we can protect Social Security and expand benefits.  By lowering prescription drug prices, we can help household budgets and strengthen Medicare.  Those are the changes we need.  I am fighting to win them and to block Republican policies that would undermine Social Security and Medicare and the security of millions of Americans.”