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FOR IMMEDIATE RELEASE
White House Proposal to Exempt Employers from Paying For Social Security Would Hurt Workers and their Families
WASHINGTON - June 10 - White House advisors are reportedly considering relieving employers from their obligation to contribute to Social Security. This proposal, if enacted, would eliminate billions of dollars of revenue dedicated to Social Security at a time when some members of Congress argue that Social Security’s benefits should be cut because the program may have insufficient revenue after 2036.
Nancy Altman, Co-Director of Social Security Works issued the following statement on the Administration’s idea:
“That the White House would even consider cutting Social Security’s funding is enormously alarming. It indicates that the White House does not take seriously the dedicated nature of worker and employer contributions to Social Security. Those contributions belong to American workers and their families. Social Security should not be treated as a piggybank or raided by politicians in Washington.
“The supposed reason for the proposal is to further stimulate the economy, but there are a number of more efficient and effective ways to do so. Those other measures would boost the economy more without giving ammunition to those who want to cut or even privatize Social Security.
“Even if the lost income were made up from general revenue, great harm would be done. If the proposal became law, those arguing to cut Social Security’s benefits would then point out that Social Security has a huge shortfall and is contributing to the deficit, and so must be cut.
Social Security provides vital economic security to millions of seniors, women, people with disabilities, children, families of soldiers killed in Iraq and Afghanistan, and others. The government should do all it can to spur job growth, but not at the expense of Social Security.”