Political Quotes

“I come to the floor today to express my support for the Protecting and Preserving Social Security Act, which I was proud to reintroduce earlier this afternoon with Senators Smith, Gillibrand and Merkley, and Congressman Deutch--who introduced the bill in the House. Social Security serves as a critical lifeline for millions of individuals and families in Hawaii and throughout the United States. For seniors, the program is fundamental to retirement security, and for families, it provides economic security. Countless individuals rely on Social Security as a key source of income, so we must continue fighting to protect the program and make sure beneficiaries receive the hard- earned benefits they deserve. The Protecting and Preserving Social Security Act does two things. First, the bill restores fairness in Social Security payroll taxes by eliminating the contribution cap on taxable income--gradually, over seven years. What does this mean? Currently, most Americans contribute 6.2 percent of their incomes toward Social Security payroll taxes. However, because of the contribution cap on taxable income, higher income earners will stop contributing to Social Security after their first $132,900 of income for 2019. This means that many working and middle class families will contribute more of their income toward Social Security, while wealthy families will contribute less.…”