In a recent interview on Fox Business, Frank Bisignano, the Commissioner of the Social Security Administration appointed by former President Trump, sparked outrage among progressive circles when he suggested that raising the retirement age for American workers might be a viable option to strengthen Social Security’s financial condition. When asked by host Maria Bartiromo if he would consider such a move, Bisignano responded, “I think everything’s being considered,” indicating that any official changes would require Congressional action and recognizing that these processes could take time.
The response from advocacy groups was swift and pointed. Social Security Works criticized Bisignano’s remarks as a breach of Trump’s previous campaign promises to protect Social Security. The organization emphasized that increasing the retirement age by even one year could lead to a 7% cut in Social Security benefits, effectively forcing workers to labor longer for diminished financial returns during retirement. They condemned this notion as “unconscionable.”
Further complicating matters, former Biden White House Deputy Press Secretary Andrew Bates highlighted a direct contradiction between Bisignano’s comments and Trump’s own pledges, specifically referencing Trump’s assertion during the current election cycle that he would not cut Social Security or increase the retirement age.
Prominent voices from the political arena also weighed in. Former Labor Secretary Robert Reich criticized the proposal to raise the retirement age, suggesting instead that the solution to bolster Social Security’s finances lies in addressing the income disparity inherent in the current tax structure. He pointed out that a worker earning $50,000 contributes to Social Security based on their entire income, whereas a CEO earning $20 million pays into the system on a fraction of that amount. Reich advocated for scrapping the Social Security tax cap to create a more equitable system.
Senator Ed Markey (D-Mass.) echoed these sentiments, criticizing the timing of Bisignano’s comments. He noted that they came only months after Republicans enacted significant tax cuts favoring wealthier Americans. “Republicans gave away trillions in tax cuts for the wealthy,” Markey remarked, framing the suggested retirement age increase as an unfair burden on everyday Americans.
The United Auto Workers union also made their position clear, offering a succinct social media response that encapsulated the sentiments of many: “Hell no!” This reaction underscores the resistance among labor groups and progressives against any moves that could jeopardize worker rights and benefits in favor of economic policies perceived to favor the affluent.
