Larson, Neal, Advocates Sound the Alarm on the Danger of Automatic Benefit Cuts to Social Security

Washington, D.C. - Today, House Social Security Subcommittee Ranking Member (CT-01), House Ways and Means Committee Ranking Member Richard E. Neal (MA-01), and Social Security advocates joined together to highlight the danger of automatic benefit cuts following a new report.

Watch the video here.

The report, featured in CBS News, illustrates how Congress' failure to act to protect Social Security would impact Americans with automatic average benefit cut of $500 in 2032. In Connecticut alone, the average resident on Social Security would see their monthly benefit cut by $556, affecting 17.9% of the population, and resulting in the loss of 1.1% of the state's GDP. While House Democrats are united behind not only protecting Social Security, but enhancing benefits by making the wealthy pay their fair share, Treasury Secretary Scott Bessent and MAGA leaders like Senator Ted Cruz have admitted their new "Trump Accounts" are a 'backdoor for privatizing Social Security,' and President Trump's hand-picked Social Security Commissioner Frank Bisignano, a former Wall Street CEO, revealed that the Trump Administration was open to raising the retirement age, a 7% cut to benefits for every year it's raised.