{"id":1950947,"date":"2023-06-19T13:02:01","date_gmt":"2023-06-19T17:02:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-whats-in-newest-proposal-to-slash-us-budget\/"},"modified":"2023-06-19T13:03:28","modified_gmt":"2023-06-19T17:03:28","slug":"social-security-update-whats-in-newest-proposal-to-slash-us-budget","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-whats-in-newest-proposal-to-slash-us-budget\/","title":{"rendered":"Latest proposal aims to reduce US budget by making significant changes to Social Security."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fsocial-security-update-whats-in-newest-proposal-to-slash-us-budget%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1950947&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><blockquote>\n<h2>Republican Lawmakers Seek Changes to Social Security<\/h2>\n<p>A group of Republican lawmakers has brought changes to Social Security back to the table as House Republicans aim to curb government spending and balance the federal budget.<\/p>\n<p>The House Republican Study Committee unveiled a new blueprint on Wednesday that proposes significant changes to Social Security, including raising the full retirement age to 69 instead of 67.<\/p>\n<h3>Gradual Increase in Retirement Age<\/h3>\n<p>According to the proposal, starting in 2026, the full retirement age would increase by three months per year, excluding those who are already retired or nearing retirement. This change would continue until the retirement age reaches 69 for individuals turning 62 in 2033. However, it&#8217;s important to note that raising the retirement age could result in decreased payouts for those who choose to retire early.<\/p>\n<p>The blueprint suggests that these changes would help ensure the solvency of Social Security, although it does not <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/no-bikinis-beach-volleyball-stars-boycott-qatar-event-because-of-no-bikini-policy\/\" title=\"No Bikinis: Beach Volleyball Stars Boycott Qatar Event Because Of No-Bikini Policy\">provide detailed information<\/a> on how this would be achieved.<\/p>\n<h3>Funding Social Security<\/h3>\n<p>Lawmakers in both chambers of Congress have been grappling with the challenge of funding Social Security before it becomes insolvent in 2033, when its trust is fully depleted. Republicans argue that failing to address this issue could lead to a 23% cut in benefits.<\/p>\n<p>\u201cThe RSC budget would <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/social-security-update-whats-in-newest-proposal-to-slash-us-budget\/\" title=\"Latest proposal aims to reduce US budget by making significant changes to Social Security.\">implement common-sense policies<\/a> to prevent the impending debt disaster, tame inflation, grow the economy, protect our national security, and defund [President Joe] Biden\u2019s woke priorities,\u201d said Rep. Ben Cline (R-VA), chairman of the group\u2019s Budget and Spending Task Force.<\/p>\n<p>Democrats, on the other hand, have pushed back on the new blueprint, favoring funding Social Security through higher payroll taxes and increased taxes on the country&#8217;s elite.<\/p>\n<h3>Debt Ceiling Negotiations<\/h3>\n<p>Social Security has been a key issue in lawmakers&#8217; discussions on the debt ceiling. However, in a recent agreement that included cuts to federally funded programs, Social Security was not among them.<\/p>\n<p>House Speaker Kevin McCarthy (R-CA) acknowledged that government programs like Social Security and Medicare are primary drivers of the federal budget. He emphasized that the <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/we-have-to-de-weaponize-manchin-chides-schumer-for-hammering-republicans-after-debt-ceiling-vote\/\" title=\"\u2018We Have To De-Weaponize\u2019: Manchin Chides Schumer For Hammering Republicans After Debt Ceiling Vote\">debt ceiling deal<\/a> is just one aspect of the broader Republican agenda.<\/p>\n<p>Although the new proposal may pass the House of Representatives, where Republicans hold the majority, it is not expected to pass the Democratic-controlled Senate or be signed by President Joe Biden.<\/p>\n<p><a href=\"https:\/\/www.washingtonexaminer.com\">Click here<\/a> to read more from The Washington Examiner.<\/p>\n<\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>House Republicans are revisiting Social Security reforms to address government spending and budget balancing. The Republican Study Committee presented a fresh blueprint, suggesting adjustments like increasing the retirement age to 69 from 67.<\/p>\n","protected":false},"author":1,"featured_media":1950948,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[6094,4463,5210,7104,3646,5127],"class_list":["post-1950947","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner","tag-aims","tag-budget","tag-proposal","tag-reduce","tag-security","tag-social"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950947","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1950947"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1950947\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1950948"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1950947"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1950947"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1950947"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}