This week, U.S. Rep. Gus Bilirakis, R-Fla., introduced a proposal to “create a non-partisan commission of experts to identify potential solutions that would ensure the long-term financial sustainability of both Medicare and Social Security.”
Bilirakis filed the “Commission on Sustaining Medicare and Social Security Act” which was sent to the U.S. House Ways and Means and the Energy and Commerce Committees.
The Florida congressman’s office offered some of the reasons why the bill was needed.
“The commission would make policy recommendations to Congress. Without congressional action, experts warn that the Medicare Trust Fund and Social Security Trust Fund will become insolvent by 2026 and 2034, respectively,” the congressman’s office noted.
“Medicare and Social Security are sacred because so many seniors depend upon them. We have a moral obligation to honor our commitment and protect these programs in perpetuity. However, we can no longer afford to kick the can down the road and ignore the financial reality that these programs, as currently structured, will become insolvent unless we take action,” said Bilirakis.
“While I am willing to consider all potential options for addressing this situation, we must make sure no current senior is negatively impacted by any changes to the programs. By establishing this non-partisan commission, we can take the politics out of the equation and find the best path forward. Ronald Reagan and Tip O’Neal did so in the early 80s. The commission worked then, and I believe it will work again,” he added.
So far, Bilirakis has not reeled in any co-sponsors and there is no companion measure over in the U.S. Senate.
