Cassidy Discusses Social Security Win with Passage of Claiming Age Clarity Act on Mornings with Fox Business

WASHINGTON - U.S. Senator Bill Cassidy, M.D. (R-LA) applauded the U.S. Senate's passage of the bipartisan Claiming Age Clarity Act, legislation he led in the Senate to make Social Security terminology clearer and help Americans make more informed decisions about when to claim benefits. Cassidy also discussed the need to address Social Security's looming insolvency in six years and outlined his plan to establish a separate investment fund that could cover 60 to 70 percent of the projected shortfall.

"We've got to fix Social Security both for the individual receiving it and for the taxpayer who funds it. And one way is to not mislead people," said Dr. Cassidy.

"The trust fund goes insolvent in six years. When it goes insolvent, by law, the amount going out has to match the amount coming in. When the trust fund goes empty, then the amount going out will fall up to 28.5 percent," continued Dr. Cassidy.

Background

Cassidy has been outspoken in the media on the need to rescue Social Security from insolvency. He has outlined his plan to create a sovereign wealth fund independent of the Social Security Trust Fund. He has written extensively on his proposal in the Washington Post, the Wall Street Journal, State Affairs, and the Washington Examiner. On the U.S. Senate floor, Cassidy has repeatedly called on Congress to act to save the program, and challenged the U.S. Senate to stop being good politicians and start being good senators.

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