Senator David Perdue’s Big Idea: Target Medicare and Social Security to Pay for Corporate Tax Cuts
Senator David Perdue is once again floating a plan to put Medicare and Social Security on the chopping block. After voting for a corporate tax giveaway that blew up the deficit, Perdue “wants to switch mandatory spending programs such as Social Security and Medicare to discretionary programs” which would put funding for those programs in jeopardy.
Targeting funding for earned benefits has been a top priority for Perdue for as long as he’s been in the Senate. And in 2017, he helped pass the “lopsided giveaway to corporations” that “trimmed a year of solvency from the primary Medicare trust fund and had a negative effect on the Social Security trust fund.”
Read more about Perdue’s reckless plan to put Georgians’ earned benefits on the chopping block:
Atlanta Journal Constitution: Perdue floats budget overhaul with ‘draconian’ penalties
By Tamar Hallerman
- Georgia U.S. Sen. David Perdue on Wednesday renewed his push for Congress to overhaul its government funding process, introducing a bill he hopes will be the first step toward tackling Social Security, Medicare and other major drivers of the national debt.
- It’s part of a broader three-part plan for lawmakers to eventually address the roughly $2.7 trillion the federal government spends each year on entitlements such as Medicare and Social Security. The programs have rapidly expanded in recent years due to rising health care costs and the country’s aging population, and portions are expected to begin running out of money in 2026 and 2035, respectively.
- Perdue acknowledged his newest budget overhaul included some “draconian” consequences, but he said there was “no question” it would work.
The Hill: Perdue proposes cutting lawmakers’ travel budgets if they miss fiscal deadlines
By Alexander Bolton
- Specifically, he wants to switch mandatory spending programs such as Social Security and Medicare to discretionary programs funded by annual bills passed by Congress if those programs need to dip into the general fund to meet their obligations.
- For Medicare’s hospital insurance fund, that switch would take place in 2026, when it is projected to exhaust itself.
- “In seven years, the Medicare Trust Fund goes to zero, which means that shortfall between liabilities and revenues coming in has to be met by the general fund. And when that happens, it has to come under the budget process,” Perdue said of his vision.