February 13, 2025
Mr. Nunn of Iowa (for himself and Mr. Davis of North Carolina) introduced the following bill; which was referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned
To direct the Comptroller General of the United States to carry out a study relating to the resiliency of Social Security and Medicare.
Section 1. Short title
This Act may be cited as the Safeguarding Social Security and Medicare Act
.
Sec. 2. Findings
Congress finds the following:
(1)
Congress must protect the resiliency and longevity of Social Security and Medicare.
(2)
71.7 million people receive Social Security benefits and 66.6 million people receive Medicare benefits.
(3)
Medicare is critical to our elderly and disabled population and their families.
(4)
Social Security benefits are necessary for our elderly population who already survive on limited budgets.
(5)
Seniors earn their benefits after contributing their payroll taxes for decades.
(6)
American workers are contributing with the promise of a financially secure future for themselves and their families.
(7)
The increased cost of living and record levels of inflation continue to put a financial strain on every American, especially those on Social Security and Medicare.
(8)
It is necessary to carry out a study to understand how cost of living and inflation projections will affect Social Security and Medicare and to provide recommendations to Congress.
Sec. 3. Study on social security and medicare
Not later than 1 year after the date of enactment of this Act, the Comptroller General shall conduct a study and submit a report to Congress on the following:
(1)
The effect of inflation and cost of living increases on Medicare and the Old-Age Survivor and Disability Insurance program under title II of the Social Security Act (42 U.S.C. 401 et seq.).
(2)
Recommendations on any legislative actions necessary to improve the ability to provide full benefits under such programs.