This week, U.S. Rep. Gus Bilirakis, R-Fla., announced he has brought back the “Commission on Sustaining Medicare and Social Security Act.”
The proposal “would 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 first introduce the bill a year ago and his office stressed that Congress needed to act quickly to help Medicare and Social Security.
“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.
Bilirakis weighed in on the proposal on Monday.
“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 many potential options for addressing this situation, we must make sure no current senior is negatively impacted by any potential 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 80’s. The commission worked then, and I believe it will work again,” he added.
The bill was sent to U.S. House Ways and Means and the Energy and Commerce Committees. So far, Bilirakis has not reeled in any co-sponsors and there is no companion measure over in the U.S. Senate.
