BSanders_20230213.pdf
In a letter to Senator Bernie Sanders, Social Security Chief Actuary Stephen C. Goss estimates that the Social Security Expansion Act's nine provisions would cut the long-range OASDI actuarial deficit from 3.42 percent of taxable payroll to 0.12 percent, letting scheduled benefits be paid in full and on time through 2096. The act would tax earnings above $250,000 and investment income, use the CPI-E for cost-of-living adjustments, and raise a special minimum benefit, while under current law combined trust fund reserves are projected to deplete in 2035.
