Members of Congress and Advocates to Hold Event Marking the Day Millionaires Stop Paying Into Social Security

Media Advisory For: Thursday, February 16th, 2017
Contact: Linda Benesch, lbenesch@socialsecurityworks.org

Members of Congress and Advocates to Hold Event Marking the Day Millionaires Stop Paying Into Social Security

Washington, DC – This Thursday, February 16th, the day that millionaires stop paying into Social Security for the rest of the year, Senators Bernie Sanders (I-VT), Ron Wyden (D-OR), and Elizabeth Warren (D-MA) along with Representatives Peter DeFazio (D-OR), Jan Schakowsky (D-IL), and Raúl Grijalva (D-AZ) will join advocates and senior activists to demand that the wealthiest pay their fair share into Social Security. The event will be at 2pm in 106 Dirksen Senate Office Building.

A livestream of the event will be available at: http://bit.ly/SocSecEvent

During the event, Senator Sanders and Rep. Peter DeFazio will be introducing the Social Security Expansion Act, which would protect and expand Social Security and pay for it by eliminating the cap for payroll income above $250,000 as well as applying a 6.2% Social Security tax to investment income for high-income households

In addition, a wide variety of resources will be released detailing the impact of the wealthy not paying into Social Security on all of their income, including a new report from the Center for American Progress on how rising inequality has hurt Social Security and a new report from the Center for Economic and Policy Research on the characteristics of the 6% of Americans who earn above the Social Security contribution cap.

Who:

  • Senator Bernie Sanders (I-VT)
  • Senator Ron Wyden (D-OR)
  • Senator Elizabeth Warren (D-MA)
  • Rep. Peter DeFazio (D-OR)
  • Rep. Jan Schakowsky (D-IL)
  • Rep. Raúl Grijalva (D-AZ)
  • Abigail Zapote, Executive Director of Latinos for a Secure Retirement
  • Rich Fiesta, Executive Director of the Alliance for Retired Americans
  • Julian Blair, Grassroots leader from MD and veteran receiving Social Security benefits
  • Dean Baker, co-director of the Center for Economic and Policy Research
  • Ben Olinsky, Vice President for Policy and Strategy at the Center for American Progress
  • Max Richtman, CEO, National Committee to Preserve Social Security and MedicareModerated by Nancy Altman, Founding Co-Director, Social Security Works

What: Members of Congress and advocates release resources on why millionaires and billionaires should pay their fair share into Social Security, and introduce the Social Security Expansion Act to make it happen.

When: Thursday, February 16 at 2:00 p.m. (EST)

Where: 106 Dirksen Senate Office Building, First St NE, Washington, DC 20002