Larson Opening Statement at Social Security Subcommittee Hearing on “Equity in Social Security: In Their Own Words”

Jun 15, 2021

Press Release

(As prepared for delivery)

Before we get into today's hearing I want to emphasize the importance of Social Security Statements. The Social Security Administration is required to mail out Statements to all workers, every year, so that Americans know about their future Social Security benefits and can plan for retirement.

Statements also allow workers to make sure that SSA has a complete and accurate record of their earnings, so they will receive their full benefit in retirement.

Unfortunately, today Statements are not being mailed to all workers. This committee has a record of bipartisan support for the Social Security Statement, and I am proud to have introduced the Know Your Social Security Act with Vern Buchanan last year to ensure that every worker receives their Statement by mail every year, as required by law.

We are here today because of COVID, and its consequences. Consequences that have exacerbated the inadequacies that have existed for a long time in our Social Security system.

Today we're going to be hearing from people in their own words about Congress's neglect to help the very citizens we are sworn to serve.

Now I say neglect, because it's been 38 years since Congress has done anything to strengthen Social Security and 50 year since we have improved its benefits.

50 years!

Social Security is by far and away the nation's most successful and popular insurance program.

However, current benefits, as we will learn today, are inadequate, unfair, and in many cases discriminatory, because of systemic economic inequities.

Benefits haven't kept pace with the cost of living and all changes that have occurred over the last 50 years.

During this time the global economy, trade, technology, and lack of strong labor unions has created downward pressure on wages making it harder to save for retirement.

65 million Americans currently rely on Social Security benefits, yet many still struggle just to make ends meet, to the shame of the nation, millions have worked all their lives, paid into a system, and receive a below poverty line check from Social Security.

Millions!

Do you know what the poverty line is? It's $12,880. Who could live on that?

Yet, millions of your fellow Americans, receive below poverty level checks adding to the wealth disparity and further eroding the middle-class.

Look, nobody gets wealthy off of Social Security. It's a subsistence level program.

Here are the facts:

• 4 in 10 beneficiaries rely on Social Security for the a majority of their income.
• The average retired worker receives just $18,500 year in Social Security benefits.
• For women, that number is even lower, it's $16,000 a year.

I want to acknowledge Representatives Terri Sewell, Steven Horsford, and Jimmy Gomez for leading the Racial Equity Initiative in this Committee, and underscoring that millions of our fellow citizens are receiving below poverty level checks. They are disproportionately women, and predominantly, women of color, and Black males.

As our esteemed colleague John Lewis said: 'Without Social Security almost half of Black and Latino seniors in this country would be living in poverty. That's not right, that's not fair, and it's not just.'

John recognized this problem in Social Security for what it is: a civil rights issue. This is not the executive branch's responsibility or anything the judicial branch will act on.

This is up to Congress, this is up to this Committee.

We are grateful that we have a President who regards Social Security as a sacred trust between the federal government and the people. We are working with him to deliver on that promise and keep that sacred trust.

Just this week, the Congressional Progressive Caucus Center underscored this in its recent report on retirement security. In it they state:

'Congress should address Social Security.... in this Congress. It should hold hearings, mark up, report out, and vote as a body on a package that at least represents the reforms proposed by President Biden... as well as other expansions.'

I commend President Biden, who embraces WEP reform, as do bills sponsored by Chairman Neal and Ranking Member Brady. This is an issue we will hear about from a former teacher in Mr. Brady's state today.

Let's be clear about this, this is the responsibility of the Ways and Means Committee, and specifically this subcommittee.

We can no longer kick the can down the road.

For everyone listening and viewing out there understand what that means.

What kicking the can literally means is postponing the fierce urgency of acting now and will result in kicking seniors to the curb, kicking veterans with disabilities to the curb, kicking spouses and dependent children who have been waiting for more than 50 years for this body to act to the curb.

That is unacceptable.

Today we will hear from real people and their stories.

We will hear from people who are struggling to survive on inadequate benefits, who have been discriminated against, through the Windfall Elimination Provision, or from racial inequities.

Everyone on the committee knows the urgency.

10,000 baby boomers a day become eligible for Social Security. And millennials will need and rely on this program more than their parents do.

Every Congressional district is affected.

We don't have to go back to 1935 to demonstrate what happened in the aftermath of the Great Depression.

We only have to go back to Great Recession of 2008 and 2009, when people witnessed their 401k become a 101k.

During that same time, the sacred trust that they have in Social Security prevailed.

Social Security never missed payment. Not a pension payment, a spousal or dependent payment, or a disability benefit.

That is why it's America's most popular program and why they're counting on us to act now!

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