Republicans in favor of Obama’s Social Security cuts
Republican leaders are happy with Obama’s proposal to cut Social Security benefits, and they are eager to schedule a debate to tackle the sensitive issue.
Two House subcommittees plan to hold a hearing this week in line with Obama’s proposal to cut annual increases in Social Security benefits. Higher Medicare premiums, higher Medicare eligibility age, and reduced benefits for well-to-do seniors will also be tackled in the hearing. Budget analysts say Republican leaders’ top priority is to reduce cost of entitlements. Included in the president’s budget proposal is the “chained consumer price index (CPI)” where benefits will be reduced by 0.3 percent.
The first public hearing for Obama’s chained CPI proposal is scheduled on Thursday, while hearings on proposals to restrain the cost of Medicare will be followed by the health subcommittee.
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