WASHINGTON (NEXSTAR) – Thursday marks the 90th anniversary of the Social Security Act. President Franklin Roosevelt signed it into law in 1935 as a way to give older Americans economic stability, but today the program faces future funding challenges.
President Donald Trump issued a proclamation Thursday honoring 90 years of Social Security. The program currently benefits nearly 70 million Americans, mostly retired, with an average monthly check of $1,863.
“We’re going to make it stronger, bigger and better,” said Trump.
The president is touting his administration’s efforts to improve the program, claiming fewer improper payments and better customer service. He also recently signed a law that removes taxes on Social Security income for most seniors, but Democrats are slamming the administration for cuts they say hurt service.
“They’re closing offices, they’re cutting staff. People cannot get help,” said Rep. Debbie Dingell (D-Mich.).
Michigan Congresswoman Debbie Dingell and other Democrats are calling for legislation to shore up the program’s future.
“It’s long overdue and people depend on it,” said Rep. John Larson (D-Conn.).
An annual report released in June shows Social Security may not have enough money to pay full benefits starting in 2034.
Vermont Senator Bernie Sanders is calling for an end to the income cap that currently limits how much higher earners have to pay into Social Security.
“So that the wealthiest Americans start paying their fair share of taxes,” said Sanders.
The president says the program is on the right track under his leadership.
“We love it. We love what’s happening with it. And it’s going to be good for 90 years and beyond,” said Trump.
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