Dems, Sanders Want to ‘Keep Billionaires Out of Social Security’
Senate Finance Committee Ranking Member Ron Wyden (D-OR) and Senator Bernie Sanders (I-VT) today introduced the “Keep Billionaires Out of Social Security Act,” which seeks to reverse “the disastrous cuts the Trump administration has made to the Social Security Administration,” claims a press release today from the Senate Finance Committee.
The bill would also prevent Social Security field offices from shutting down, make it easier for seniors and people with disabilities to apply for benefits over the phone, and provide the resources the SSA needs to approve earned benefits quickly.
U.S. Senate Minority Leader Chuck Schumer (D-NY) had previously announced in August that the bill would be introduced in September.
“Americans’ earned Social Security benefits are at greater risk than ever before after Trump and DOGE’s continued attacks on the agency,” Wyden said. “Customer service resembles Swiss cheese, Americans’ most precious data is being handled carelessly and runs the risk of a catastrophic data breach, and the Social Security Administration is increasingly politicized. It’s time to put a stop to these threats to Social Security so seniors and all Americans who are paying into Social Security out of every paycheck can count on their benefits getting paid out on time and in full.”
Joining Wyden and Sanders as cosponsors are Sens. Chuck Schumer (D-NY), Richard Blumenthal (D-CT), Kirsten Gillibrand, (D-NY), Tina Smith (D-MN), Elizabeth Warren (D-MA), Jack Reed (D-RI), Andy Kim, (D-NJ), Ed Markey (D-MA), Angus King (I-ME), Peter Welch (D-VT), Amy Klobuchar (D-MN), Chris Coons (D-DE), Tammy Baldwin (D-WI), Mazie Hirono (D-HI), Alex Padilla (D-CA), Dick Durbin (D-IL), John Hickenlooper (D-CO), Chris Van Hollen (D-MD), Jeff Merkley (D-OR), Sheldon Whitehouse (D-RI), Tim Kaine (D-VA), Ruben Gallego (D-AZ), Michael Bennet (D-CO), Cory Booker (D-NJ), Patty Murray (D-WA), Mark Warner (D-VA), and Angela Alsobrooks (D-MD).
“Since Trump has been in office, he has worked overtime—including with one of the wealthiest men in the world, Elon Musk—to dismantle Social Security and undermine the faith that the American people have in this vitally important program. Thousands of Social Security staff have lost their jobs, seniors and people with disabilities are having a much harder time receiving the benefits they have earned, field offices have been shut down and the 1-800 number is a mess. That is beyond unacceptable,” Sanders said.
“On the 90th anniversary of Social Security, our job must be to reverse these disastrous cuts, expand Social Security and make it easier, not harder, for Americans to receive the benefits they have earned and deserve. That’s precisely what this legislation will do,” Sanders added.
Today’s released said Social Security is the most successful government program in U.S. history—paying out every benefit owed to every eligible American on time and without delay for almost 90 years, and helping millions of seniors, widows, children and people with disabilities live with dignity. In 2023 alone, Social Security lifted 27.6 million Americans out of poverty, including more than 19.5 million seniors. Without it, nearly 40% of people over age 65 would be living in poverty, the release said, citing data from the Center on Budget and Policy Priorities.
The bill’s Democrat and Independent sponsors said the Trump administration has eliminated more than 7,000 workers at the SSA, closed field offices throughout the country, required in-person office visits to receive benefits, limited access to a live operator when Americans call the 1-800 number for Social Security benefits, and issued false statements designed to undermine the confidence that the American people have in the program. The release also expressed concern that the “Department of Government Efficiency” (DOGE) staff has received unfettered access to Americans’ most sensitive private information.
Bill unlikely to advance
The bill’s prospects for advancement are bleak, given the GOP’s majorities in Congress and that it is has no Republican support. Observers note there could be political utility in introducing it—even if it fails procedurally—as a tool for Democrats to highlight Republican opposition to protecting access to Social Security in advance of mid-term elections.
“We are transforming the customer experience, investing in technology to build frontline capacity, and using real-time data to monitor performance across the board. We are delivering higher levels of customer service—and this will continue.”
SSA Commissioner Frank J. Bisignano
For its part, the Social Security Administration (SSA) issued a press release July 23 claiming it is making “substantial progress” in improving service delivery outcomes resulting from focused technology enhancements and process engineering.
“These improvements reflect Commissioner Frank J. Bisignano’s strategic vision to modernize SSA’s customer service—meeting people where they are, addressing customer needs at the first point of contact, and improving outcomes across all channels,” the release states.
“Our vision is centered on providing outstanding service that works for everyone we serve—whether they call, walk into a field office, or choose to manage their benefits online,” Bisignano said. “We are transforming the customer experience, investing in technology to build frontline capacity, and using real-time data to monitor performance across the board. We are delivering higher levels of customer service—and this will continue.”
The SSA release noted recent accomplishments including:
• SSA is handling more calls with a faster response time. The agency handled nearly 1.3 million calls on the National 800 Number in mid-July, or 70% more than the same week last fiscal year, while reducing the average speed of answer to 6 minutes. This response time is down from an average of 18 minutes so far this year and 30 minutes last year, or an 80% reduction.
• SSA is reducing field office wait times. The agency reduced the wait time in field offices to 23 minutes so far this year, compared to 30 minutes last year, or a 23% reduction.
“Our strategy is clear: serve customer needs quickly and completely, no matter how they contact us,” Bisignano said. “We will continue to evaluate our tools, technology, and processes to empower our workforce to provide best-in-class customer service to the American people.”
Key provisions of new bill
Per today’s release from Wyden, the Keep Billionaires Out of Social Security Act would:
• Protect and improve Americans’ access to Social Security offices: prohibiting closures, relocations and service reductions, reversing Trump’s layoffs, and ensuring Americans can speak to real people to get their benefits.
• Increase funding by $5 billion to improve customer service, modernize technology and reduce backlogs.
• Restore assistance for vulnerable and disabled people to access their benefits.
• Safeguard Americans’ data and stop Trump’s politicization of Social Security.
• Remove DOGE’s authority and call for an independent investigation into DOGE’s actions at SSA.
The legislation is endorsed by several organizations, including Social Security Works, AFSCME, Alliance for Retired Americans, Center for Living & Working, Montachusett Veterans Outreach Center, American Association of People with Disabilities, Justice in Aging, the National Committee to Preserve Social Security and Medicare, New York Legal Assistance Group, New Disabled South, and the National Disability Institute.
Nancy Altman, president of Social Security Works, penned an op-ed in The Hill recently titled, “Trump is Breaking Social Security.” In it, she wrote: “Ninety years ago, President Franklin D. Roosevelt signed Social Security into law. It has since withstood wars, recessions and pandemics, but it has never faced a greater threat than Trump and Musk.”
She said Trump’s strategy is to “destroy Social Security quietly from within, while loudly claiming he will never cut it.”
She wrote that Social Security has stopped reporting metrics that have been public for decades, while Trump’s Social Security Commissioner Frank Bisignano is cherry-picking the remaining metrics to try to paint a rosy picture—but that investigations from journalists and members of Congress tell a very different story.
• Read a summary of the bill here.
SEE ALSO:
• Schumer Introducing New Legislation to ‘Protect’ Social Security
• DOGE Compromised Social Security Data, Whistleblower Claims
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
