Social Security is one of our greatest achievements of the last century, a profound statement about some of our nation’s enduring values, and a contract between generations that we must honor. As our population ages, however, we need to take steps to strengthen the system so it supports those who paid into the system and keeps its promise alive for future generations. That's why we need to eliminate the payroll tax cap. Today, someone who makes $1 million a year pays the same amount into Social Security as someone who makes $120,000. That's not right – and it doesn’t make any sense. If we eliminate the payroll tax cap we can cover nearly all of Social Security’s funding gap, and ensure it’s solvent for decades to come.
Medicare is a critical resource for millions of Americans, two of whom are my parents. In fact, they wouldn't be able to pay for their medicine without it. Current estimates indicate that Medicare funds will be exhausted by 2030; we can’t let this happen. While we need to increase revenues to keep Medicare sustainable, that alone is not enough. We also need to work to lower the overall cost of healthcare. In Congress, I’ll fight for a two-step plan to ensure Medicare’s long-term success:
- Reducing unnecessary and often harmful services by moving away from a Fee-for-Service model of healthcare treatment;
- Increasing the use of preventative care for better care for patients while also decreasing the costs of emergency care.