Fighting for a U.S. federal budget that prioritizes peace, economic security and shared prosperity
The president’s proposal would support a transfer of funds from Social Security’s retirement program to its disability insurance program to ensure the continued viability of the disability benefits program until further changes can be made in Congress. This contradicts a rule proposed by House lawmakers in January that would prevent such transfers. Reallocating funds from one trust fund to another, which Congress has done 11 times in the past, has historically been a non-controversial measure that prevents cuts to Social Security benefits.
Two in three Americans believe making the Social Security system sound should be a top priority for the president and Congress in 2016.
The budget would also close loopholes that allow some high-income individuals to avoid Medicare and Social Security payroll taxes, which could provide the program with as much as $10 billion more per year by the end of the decade.
The president’s budget proposes changes to Medicare, Medicaid, and other programs run by the Department of Health and Human Services that would result in $400 billion in savings over 10 years. For example, the proposal would ask Medicare beneficiaries to pay more for their health care coverage and would introduce a co-payment for Medicare beneficiaries who receive home health care services.