Social Security

March 09, 2016

Seniors and Veterans Demand a Vote on the SAVE Benefits Act

Today Maryland/DC Alliance member Susan Taylor spoke at an event on Capitol Hill urging the Senate to vote on S. 2251, U.S. Sen. Elizabeth Warren’s SAVE Benefits Act – providing seniors a one-time payment of $581. The amount is 3.9% of the average annual Social Security benefit, the same percentage that the average Wall Street executive received as a bonus in 2014.

While retirees struggle to make ends meet with no Social Security cost-of-living adjustment in 2016, CEO’s enjoy tax breaks on their bonuses.

Senators Tammy Baldwin (D-WI), Charles Schumer (D-NY) and Warren (D-MA) joined seniors and veterans to demand that Senate Majority Leader Mitch McConnell (R-KY) bring the Seniors and Veterans Emergency Benefits Act (SAVE Benefits Act) to the floor for a vote. Afterwards, activists delivered more than 800,000 petition signatures in support of the bill.

Senator Warren and 21 cosponsors have introduced the SAVE Benefits Act to ensure that Social Security beneficiaries and veterans are not harmed by the failure of benefits to keep up with their cost of living. The SAVE Benefits Act would provide seniors, Veterans, people with disabilities, SSI recipients, and others a one-time payment equal to 3.9 percent of Social Security’s average benefit, or about $581 per person, paid for by the closure of a wasteful loophole that allows corporations to write off executive bonuses to their highly paid CEOs as a “business expense.”

This year marks just the third time in 40 years that Social Security beneficiaries, veterans and others will see no cost of living adjustment (COLA) in their benefits, despite the fact that the cost of prescription drugs and other expenses is continuing to rise.

“The 0% COLA was calculated partly by figuring in a lower price for gas, but I don’t drive very much,” said Ms. Taylor at the event. “This one-time emergency payment would help me with what I do spend money on: food, health care expenses, and housing.”

“With no Social Security cost-of-living adjustment this year, a one-time payment of $581 would mean so much to me and my family,” she added.

See the video from the event here.

13 thoughts on “Seniors and Veterans Demand a Vote on the SAVE Benefits Act”

  1. I am 72 years old and working part time to try to have enough income to do some things I have put off. Last year the government taxed my social security along with taking out regular contributions for social security from my paycheck.
    I think its only right to pay taxes on my part time job income and on 401k RMD’s, But to pay taxes on social security is nothing but outright government thief! I have been paying into Social Security since I was 16 years old and Social Security is not really a benefit for me its mine! That money if invested properly would be well over a million and would pay my Social Security as well as others on disability. In my opinion the federal government has misused social security money for years, It started when LBJ got rid of the separate Social security fund and put the monies in the general fund. The time is overdue to straighten this mess up!

    1. truth is we will likely never get it!! with Paul Ryan and the republican throat cutters controlling much of congress..fat chance it will ever come up for an actual vote!

  2. I will vote against the party that is responsible for killing senate bill S.2251. I noticed that Democrats introduced the bill and want a vote. I have not heard anything about this vote yet. It looks like there will be little if any COLA next year also for social security. My wife and I have decided to vote our pocketbook and vote for the party that will help get this bill passed. If it does not pass we will assume the Republicians who control the house and senate are against it.

    1. As badly as many of us could use the money i doubt it will ever come up for vote..probably gonna get stuck in committee and die.

  3. OK folks. Veteran here 100 percent service connected. I also was worried about s2251 passing before Jan. But then I saw that they were busy passing National Cowboy Day so I feel a lot better knowing what’s important Right

  4. I am seventy seven years old. I just recently read about the possibility of benefits from this bill. Is there a chance of this bill becoming a actual reality.

    1. As you may know, we needed to get this bill passed in Congress in order for the funds to be approved and paid out by the Social Security Administration.

      Unfortunately, we were not able to get the bill passed in 2016 before Congress adjourned, so we are now working to get some form of this legislation introduced in the new Congress. We are doing everything we can to put pressure on your elected officials to get it reintroduced and passed. There is no guarantee; our opponents from Wall Street and big business will do everything they can to defeat it, but we will not stop fighting to make it happen. The tiny COLA announced for 2017 is just one more reason we will continue to fight to pass this bill, along with others like it.

      Thank you for reaching out.

  5. I am so tired of our current government.All of us retired and disabled persons see such small benefits after paying social security taxes all of our lives.

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