Eighty-five years ago tomorrow, President Franklin D. Roosevelt signed the Social Security Act into law, establishing a permanent fund that has provided old age retirement benefits and disability benefits for Americans for generations. The Social Security Act was part of a series of programs and reforms enacted to help pull the U.S. out of the Great Depression.
According to the Social Security Administration, around 65 million Americans will receive over $1 trillion in Social Security benefits in 2020. One of the executive orders signed last week defers FICA contributions, which funds Social Security. This greatly jeopardizes the future of the program.
“The executive order which defers Social Security contributions until after the elections is just the beginning,” said IAM International President Robert Martinez Jr. “Make no mistake, this is a full-on declaration of war against the current and future Social Security beneficiaries. We must ensure the most vulnerable in our society are protected for the next 85 years and beyond.”
Please join the IAM in wishing Social Security a happy birthday tomorrow on social media using the hashtags #SocSec85 and #ExpandSocialSecurity.