Improving benefits for the low paid is a noble goal, but all but the very wealthy need the benefits in current law.
Why in the world would Republicans put out a plan to dramatically cut Social Security?
Even Donald Trump said he wouldn’t mess with the program’s benefits. Yet, the Republican Study Committee’s Blueprint to Save America, released in June, has a full section devoted to Social Security. I had never heard of the Republican Study Committee (RSC), but apparently the organization has served as the conservative caucus of House Republicans since its founding in 1973, and it currently consists of 158 of the 212 Republican House members.
If the Republicans take over the House, Rep. Kevin McCarthy has not ruled out cutting Social Security. So, it’s worth taking a look at what a Republican plan might look like.
The proposal in the RSC document — Make Social Security Solvent Again — is based on a bill put forward in 2016 by Sam Johnson (R-Texas). That legislation would eliminate Social Security’s 75-year deficit solely by cutting benefits. According to scoring by the Social Security actuaries at the time, the Johnson plan would reduce Social Security costs at the end of the 75-year projection period by 31%.