With Social Security on a steep descent to $6.5 trillion in unfunded obligations during the next 75 years, Senator Hutchison’s Defend and Save Social Security Act would secure the future of the program without raising taxes or cutting core benefits. Under current law, retirees’ monthly benefits would be cut nearly one-fourth, beginning in 2036. Hutchison’s plan would ensure Social Security’s solvency by gradually increasing the retirement age (over 16 years) to 69 and instituting a modest one percent reduction in the annual cost-of-living adjustment.
Hutchison’s plan involves common-sense, gradual reform that strengthens Social Security for current and future retirees.
The Honorable Kay Bailey Hutchison (R-TX)
United States Senator
Followed by a Panel Discussion with
Andrew G. Biggs
Resident Scholar, American Enterprise Institute
Jason J. Fichtner, Ph.D.
Senior Research Fellow, Mercatus Center at George Mason University
Senior Research Fellow in Retirement Security and Financial Institutions, The Heritage Foundation
Senior Fellow and Director of Government Finance Programs
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Entitlements, Taxes & Spending Initiative of the Leadership for America Campaign
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