Newly Proposed Legislation to Increase Social Security Benefit Amounts
Newly Proposed Legislation to Increase Social Security Benefit Amounts:
Recently Rep. John Larson (D-CT) reintroduced his 2100 Act: A Sacred Trust bill which offers many benefits for those receiving Social Security, or looking to apply in the future. Rep. Larson, the chair of the Ways and Means Social Security Subcommittee, continues to introduce legislation to increase benefits to Social Security payees.
Social Security 2100: A Sacred Trust includes an immediate benefit increase for all beneficiaries and provides for a more accurate cost of living adjustment by basing it on the consumer price index for the elderly. Further the minimum benefits would be increased to assist long term, low earners who have paid in for many years but not in high amounts. This benefit would be tied to the poverty line to ensure Social Security beneficiaries who have worked their entire life are not left struggling below the poverty line. Similarly included is an increase of 5% of the benefit amount to long term beneficiaries who have been receiving benefits for 20 years.
Other provisions include providing caregiver credits for those who have to leave the workforce to care for a dependent relative or child are also included. As Social Security benefits are based on work history, a person who has had to stop working to care for family members can have their own benefits diminished when it is time for them to retire.
For new beneficiaries, the five months wait for disability benefits is eliminated. This ensures a person is eligible for benefits the day they become disabled, instead of being deprived of five months of back benefits. This can often be thousands of dollars that claimants lose out on for no fault of their own. For many claimants who are catastrophically injured, and subsequently granted benefits, this five month wait can quickly deplete their savings. Once this person is found disabled, they are advised that even though the government acknowledges they were unable to work and qualified for disability as of a certain day, they must wait five months for back pay to start.
Finally, this legislation would increase the cap of $6000.00 on fees. Instead, this cap would be wage-indexed as opposed to remaining fixed at the level set in 1991. This serves to increase access to professional representation. The assistance of an attorney in filing claims, as well as representation at the hearing level can be key in having your Social Security Disability benefits granted.
If you would like to help the National Association of Social Security Claimants Representatives has provided a way to send your representatives a letter of support. Click here to send your representatives a letter asking them to co-sponsor this legislation. Using our simple action portal with a pre-written template, it should take less than a minute.