Could you use an extra $200 in Social Security funds each month? That's what would happen under a bill currently being discussed.
Under the terms of the bill, current Social Security recipients or those who turn 62 in 2023 would receive an extra $200 in each monthly check, or a boost of $2,400 a year.“At a time when nearly half of older Americans have no retirement savings and almost 50 percent of our nation’s seniors are trying to survive on an income of less than $25,000 a year, our job is not to cut Social Security,” Sanders said in a statement.
A fact sheet for the bill said the changes would ensure Social Security is fully funded for the next 75 years without raising taxes for more than 93% of American households that make $250,000 or less. If you purchase a product or register for an account through one of the links on our site, we may receive compensation.
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