House Conservatives US Federal Budget Plan Focuses On Social Security And Medicare Changes

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Last Wednesday, the House conservatives proposed a new US federal budget plan raising the US retirement age to collect Social Security.

House Conservatives US Federal Budget Plan: Social Security Benefits Targeted for Cuts
House Conservatives US Federal Budget Plan Focuses On Social Security And Medicare Changes (Photo: Smart Asset)

 

The US Federal Budget Plan promises to shore up the affluence of Social Security and Medicare

The largest coalition of House conservatives proposed a fiscal blueprint US federal budget plan that promises the stability of the federal budget in seven years. The US Federal budget plan makes GOP tax cuts permanent and slashes domestic expenditure.

The US federal budget plan presented by the 175 members of the Republican Study Committee would be proposed to raise the retirement age can start to claim full Social Security benefits from 67 to 69.

The US federal budget plan proposes a support plan that promotes private insurance options that compete with outdated Medicare.

Read Also: Social Security, Medicare Beneficiaries Will Expect Retirement Age Increase Following New Budget Plan

Social Security and Medicare are facing insolvency

The Federal budget plan focused efforts to reduce the two programs’ budget shortfalls by reining Medicare prescription drug costs and raising Social Security and Medicare payroll taxes on high-income recipients.

Read Also: Debt Ceiling Plan Will Cut VA’s Budget By 22%

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