Monday, February 16, 2015
On February 11, the Senate Committee on the Budget held a hearing titled, "The Coming Crisis: Social Security Disability Trust Fund Insolvency." As previously reported, the House kicked off the new session of Congress by making a rules change that imposes procedural hurdles to prevent transferring money from the Old Age Survivors Insurance Fund to the Disability Insurance Trust Fund. (See WICs article, "House Approves Measure to Limit Transfers Between Social Security and Disability Funds," January 12, 2015.)
ANCOR joined with dozens of national disability organizations to submit a formal statement to the Budget Committee urging Congress to allow the reallocation of money between the two funds in order to keep them solvent without imposing cuts to coverage, eligibility, or benefits. The statement notes that reallocation between the funds has been done multiple times in the past, and permitting such transfers to continue would keep the funds solvent through 2033.
Information on the hearing, including an archived webcast of the proceedings, is available here.