GOP Committee Proposes Raising Retirement Age to Address Social Security Solvency

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The Republican Study Committee, representing a majority of House Republicans, proposes raising the retirement age to reflect increased life expectancy, targeting those not close to retirement. It suggests limiting benefits for high-income earners and adjusting the Social Security benefit formula.

The proposal warns of Social Security’s impending insolvency, advocating for bipartisan reform. This stance contrasts with President Biden’s commitment to protecting Social Security, amid a broader debate on entitlement reform and fiscal responsibility leading into the 2024 election.