Source link : https://las-vegas.news/senators-pitch-1-5-trillion-funding-fund-for-social-safety-what-to-know/
(The Hill) – A bipartisan duo within the Senate has been garnering consideration for a pitch aimed toward shoring up the solvency of Social Safety.
The thought, pushed by Sens. Invoice Cassidy (R-La.) and Tim Kaine (D-Va.), requires investing $1.5 trillion over the following 5 years into an funding fund that may then be given 70 years to develop.
“It is something to save Social Security, and to save the benefits flowing to the people, frankly, will either already depend on them or will depend upon them going forward,” Cassidy instructed The Hill final month.
Right here’s what lawmakers — and a few consultants — have mentioned to this point.
The way it works
Whereas the senators have but to launch textual content for the plan, Cassidy mentioned the federal government would create an funding fund separate from the present Social Safety belief funds, into which the federal government would place $300 billion yearly over the following 5 years.
That cash could be invested into shares, bonds and different investments, and Cassidy mentioned it could be held “in escrow for 70 years.”
“Any dividends being paid, for example, flow back into the investment fund. As that occurs, we also repeal the law requiring that benefits be cut to match income,” Cassidy instructed The Hill.
The Treasury Division could be liable for making up the funds for these 75 years, at which level the fund would pay again the Treasury Division and use its remaining funds to complement…
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Author : LasVegasNews
Publish date : 2025-08-07 22:16:00
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