president joe biden march 15 2024 capitol building_BLU_A92996551
President Joe Biden released his proposed $7.3 trillion budget for fiscal year 2025 on March 11, which includes a slew of changes it wants to bring to Social Security in order to “protect and strengthen” the program.
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“Social Security and Medicare are more than government programs, they are a promise — a rock-solid guarantee that generations of Americans have counted on — that after a life of hard work, you will be able to retire with dignity and security,” according to the budget.
The administration estimated that in 2024, an average of almost 68 million Americans per month will receive a Social Security benefit, totaling $1.5 trillion in benefits paid during the year, according to the Social Security Administration (SSA) fact sheet.
The proposed budget calls for $15.4 billion in discretionary budget authority — a $1.3 billion or 9% increase over the 2023 enacted level — to improve customer service at Social Security field offices, State disability determination services, and teleservice centers for retirees, individuals with disabilities, and their families, according to as SSA press release.
“It’s not surprising that the future of the Social Security Administration is now on the battlefield,” said Peter C. Earle, senior economist, American Institute for Economic Research. “The economy is slowing, unemployment is rising, and the combination of ongoing inflation and rising interest rates is hammering American citizens. For many older Americans, changes to Social Security is a worrisome prospect, so it’s a place where the incumbents can score political points.”
Here are the Biden administration’s key principles to improve recipients’ experience:
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No Benefit Cuts
Biden reiterated he would reject any efforts to cut or undermine the Medicare or Social Security benefits that seniors and people with disabilities have earned and paid into their entire working lives.
“The Budget honors that ironclad commitment by firmly opposing benefit cuts to either program and by embracing reforms that would protect and strengthen these programs. The President remains committed to working with the Congress to protect Medicare and Social Security for this and future generations,” according to the budget.
Not making cuts is not the same as keeping up with inflation, of course, said Earle.
“Even if cuts aren’t made, many Social Security recipients are falling behind in their purchasing power, and feeling the crunch of higher consumer prices,” he added.
Extending Solvency
To do so, the administration calls the highest-income Americans “to pay their fair share.”
“Currently, middle-class and lower-income Americans pay Social Security taxes on all of their earnings, but higher-income Americans do not. That’s not fair. The President believes that protecting Social Security should start with asking the highest-income Americans to pay their fair share,” according to a White House fact sheet.
Improve Service Delivery
The administration said it was “committed to improving service delivery for the more than 6 million retirement, survivor, and Medicare claimants, as well as the more than 2 million individuals applying for disability and Supplemental Security Income (SSI) every year,” according to the SSA press release.
Advance Equity and Accessibility
This would ensure the programs reach underserved communities and people facing barriers to accessing services, including individuals with low income, limited English proficiency, mental and intellectual disabilities and those facing homelessness.
“The budget also supports our efforts to simplify and update the SSI application processes and expand access to agency programs and services through our outreach efforts, particularly for underserved communities,” according to the SSA press release.
In turn, the budget proposes to improve IT systems to provide a more consistent, equitable, and accessible experience for customers and reduce burdensome manual processes for employees.
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This article originally appeared on GOBankingRates.com: Social Security: 4 New Ways Biden Plans To Strengthen and Improve Recipient’s Overall Experience
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