Discussions on the Future of Social Security
The Bipartisan Policy Center recently hosted a virtual panel discussion on Social Security’s Cost of Living Increase for 2022 and the Future of the Program. You can watch the recording here:
The Social Security Board of Trustees recently released its annual report on the program’s current and projected financial status, which clarified that while COVID-19 has not dramatically affected Social Security’s finances, its primary trust fund remains just over a decade away from depleting its reserves. Moreover, based on the Social Security Administration’s announcement of next year’s cost-of-living adjustment, beneficiaries will see one of the greatest increases in monthly benefits in nearly 40 years. These developments carry significant implications for how the program’s financing gap should be addressed, especially in the face of an economy and labor market still in recovery. This virtual panel discussion breaks down the key takeaways from the 2021 Trustees Report, the program’s cost-of-living adjustment for 2022, and what’s ahead for the future of Social Security.
Related to this discussion, find two attached documents: one from the National Association of County Behavioral Health & Development Disability Directors and the other from the Urban Institute. Both documents address significant and necessary reforms for the Supplemental Security Program that will reduce poverty.
About the Bipartisan Policy Center
The Bipartisan Policy Center is a Washington, DC-based think tank that actively fosters bipartisanship by combining the best ideas from both parties to promote health, security, and opportunity for all Americans. Our policy solutions are the product of informed deliberations by former elected and appointed officials, business and labor leaders, and academics and advocates who represent both sides of the political spectrum. BPC prioritizes one thing above all else: getting things done.