New Bill Sets Up 'Fast Track' for Social Security Cuts, Critics Say

Bipartisan legislation introduced Thursday, the Fiscal Stability Act, would set up a fiscal commission to address the nation’s national debt and make “fast track” changes to Social Security, critics say, including possible cuts to the program.

Nancy Altman, president of Social Security Works, said the “proposed commission is Robin Hood in reverse — multi-millionaire Senators plotting to steal working people’s earned Social Security and Medicare benefits behind closed doors.

“Anyone who supports this commission is supporting cuts to Social Security and Medicare, and we will make sure the American people know it,” Altman explained.

The bill was introduced by Sens. Joe Manchin, D-West Virginia, and Mitt Romney, R-Utah.

Other senators co-sponsoring the bill are John Cornyn, R-Texas; John Hickenlooper, D-Colo.; Cynthia Lummis, R-Wyoming; Jeanne Shaheen, D-New Hampshire; Kyrsten Sinema, I-Arizona; Thom Tillis, R-North Carolina; Mark Warner, D-Virginia; and Todd Young, R-Indiana.

A similar bill was introduced in the House by the Bipartisan Fiscal Forum Co-Chairs, Reps. Bill Huizenga, R-Michigan and Scott Peters, D-California.

Maya MacGuineas, president of the Committee for a Responsible Federal Budget applauded the introduction of the bill Thursday, stating that “historically, commissions have played pivotal roles in safeguarding Social Security, improving military efficiency, enhancing national security, innovating tax code improvements, and guiding the national discourse on fiscal policy.”

“The commission’s primary mission would be to produce a plan to improve the nation’s fiscal trajectory with bipartisan backing,” according to MacGuineas.