Congress in furor over disability fund depletion issue
Vermont Senator Bernard “Bernie” Sanders, a liberal independent, said that passing the proposal to block the transfer of funds from the Social Security retirement fund to the disability fund could lead to a 20% cut in Social Security disability benefits for at least 11 million people, according to an Associated Press article on January 16.
Lawmakers in the past, especially during the administration of President Ronald Reagan in the 1980’s, have been able to reallocate funds from the retirement trust to the disability fund. However, a recent procedural move made by House Republicans was put in place to prevent this from happening unless the transfer was accompanied by disability benefit cuts or tax increases.
If you would like to pursue filing for Social Security disability benefits and you need assistance doing so, the legal team at the Chris Mayo Law Firm in San Antonio has the experience to guide you smoothly through the process. Call our offices today at (210) 999-9999 to learn more.