Congresswoman Nancy Pelosi

Representing the 12th District of California

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Retirement Security

Congresswoman Pelosi joins former Supervisor Sophie Maxwell and community leaders to celebrate the 75th anniversary of Social Security.

In San Francisco alone, one in five seniors live in poverty. Like so many in our city, Americans are also facing the dismal prospect of finding their pensions increasingly at risk. These realities make saving for retirement an even greater challenge.

Social Security and Medicare are solemn pledges to our seniors – a promise of a safe and secure source of retirement income and health care for Americans. Protecting Social Security and Medicare is among my top priorities.

Fighting the Attack on Seniors

House Republicans voted to pass a budget for 2013 to end Medicare as we know it, dramatically raise seniors’ health costs, and to dismantle the progress of the Affordable Care Act. AARP stated that “the proposal is likely to simply increase costs for beneficiaries while removing Medicare's promise of secure health coverage -- a guarantee that future seniors have contributed to through a lifetime of hard work.”  Democrats will always protect Medicare.

The Affordable Care Act’s passage in 2010 by a Democratic-led Congress has afforded Americans lower health care costs, access to higher quality health care, and protected the Medicare guarantee. The 2012 Medicare Trustee’s report states that the ACA improves solvency of Medicare by 8 years to ensure that future generations of Americans will be able to count on the Medicare guarantee. In the first 2 years of its enactment, 5.1 million seniors and people with disabilities saved $3.2 billion on prescription drugs alone; an average of $635 per Medicare beneficiary. In addition, over 2.3 million seniors took advantage of a free Annual Wellness Visit under Medicare in 2011.

I also support the reauthorization of the Older Americans Act in order to ensure uninterrupted delivery of social and nutrition services to our seniors and their caregivers.
 

Preserving Social Security 

For more than 75 years, Social Security has represented a bedrock promise to the American people: that after a lifetime of work, this country will ensure a measure of protection for our seniors, now, and for generations to come. What started as a cornerstone of the New Deal has become an unbreakable bond in our nation’s social contract. It is a source of economic security for millions of hard-working Americans—through survivor benefits and assistance to seniors and people with disabilities.

About 90 percent of people aged 65 and older receive Social Security benefits and nearly 2 in 3 get half or more of their income from Social Security. As of December 2011, 36 million retired workers received an average benefit of $1,229 per month and 8.6 million disabled workers received an average benefit of $1,111 per month. The typical replacement rate is about 41 percent for a worker with medium earnings.

Despite this history, Republicans are yet again promising to privatize and cut Social Security and turn it over to Wall Street. The Social Security Trust Fund has a current surplus of $2.7 trillion. While Congress must address the long-term funding challenges to Social Security, any reforms must be focused on ensuring its long-term stability. We cannot turn our backs on the 55 million Americans who receive Social Security benefits.

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More on Retirement Security

Dec 9, 2016 Press Release

Contact: Drew Hammill/Caroline Behringer, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after the Republican Chairman of the Social Security Subcommittee of Ways and Means, Chairman Sam Johnson, introduced legislation late yesterday that would inflict deep cuts in Social Security benefits:

Dec 8, 2016 Press Release

Contact: Drew Hammill/Caroline Behringer, 202-226-7616

Washington, D.C – Democratic Leader Nancy Pelosi delivered remarks today on the House Floor in support of the bipartisan Miners Protection Act.  Below are the Leader’s remarks. 

Aug 12, 2016 Press Release

Contact: Drew Hammill/Caroline Behringer, 202-226-7616

Washington, D.C. – House Democratic Leader Nancy Pelosi released the following statement, marking the 81st anniversary of President Franklin Delano Roosevelt’s signing of the Social Security Act on August 14, 1935:

Jun 22, 2016 Press Release

Contact: Drew Hammill, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after the House voted to sustain the President’s veto of Republicans’ bill to disapprove the Department of Labor’s fiduciary rule: 

“House Republicans would rather help unscrupulous financial advisors prey on Americans' hard-earned retirement savings than hold a vote to keep guns out of the hands of suspected terrorists and criminals.

Apr 28, 2016 Press Release

Contact: Drew Hammill/Evangeline George, 202-226-7616

Jan 28, 2016 Press Release

Contact: Drew Hammill/Evangeline George, 202-226-7616

Baltimore – Democratic Leader Nancy Pelosi and the Members of the House Democratic Caucus held a press availability following Vice President Biden’s remarks at the 2016 Democratic Issues Conference.  Below are the Leader’s opening remarks followed by the question and answer session.

Nov 2, 2015 Press Release

Contact: Drew Hammill/Evangeline George, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after President Obama signed the bipartisan budget package into law:

“Today, we have moved America forward: preserving the full faith and credit of the United States, and enacting a bipartisan budget that strengthens our national security, protects our seniors, creates jobs and invests in the future.

Oct 15, 2015 Press Release

Contact: Drew Hammill/Evangeline George, 202-226-7616

Washington, D.C. – Democratic Leader Nancy Pelosi released the following statement after the Social Security Administration announced there will be no COLA increase for Social Security in 2016, precipitating large premium and deductible increases for Americans on Medicare Part B:

Aug 14, 2015 Press Release

Contact: Drew Hammill, 202-226-7616

San Francisco – Democratic Leader Nancy Pelosi released the following statement, marking the 80th anniversary of President Franklin Delano Roosevelt’s signing of the Social Security Act:

Mar 26, 2015 Press Release
Washington, D.C. – Democratic Leader Nancy Pelosi delivered remarks today on the House floor in support of HR.2, the Bipartisan Permanent SGR Fix & CHIP Reauthorization Package.  Below is a transcript of the Leader’s remarks: