Social Security & Senior Issues
Every senior citizen should be able to retire with dignity, economic security, and high-quality medical care.
Social Security
Social Security is a promise we make to each other that no one who has worked hard will be left out in the cold. Many of our seniors rely on their Social Security to maintain a decent standard of living. In Congress, Jim Himes will fight to make sure that Social Security is always there to support retirees, and to prevent it from being put at risk by reckless schemes like privatization. This is a critical difference between Jim and Chris Shays, who has endorsed George Bush’s plan to privatize social security.
As someone who spent 12 years on Wall Street, Jim knows how risky the privatization of Social Security would be. Anyone who has watched the markets, Bear Stearns, Lehman Brothers, Fannie Mae and Freddie Mac in the last year would never want their retirement subjected to that sort of risk.
Retirement Savings
Jim also believes that we must find ways to promote retirement savings alongside the basic promise of Social Security. That’s why Jim has proposed a targeted tax cut to encourage voluntary retirement savings. Under Jim’s plan, middle-class workers would receive $1 back on their tax returns for every $2 they voluntarily contribute to a 401(k), IRA, or other qualified plan – up to a $1,000 tax credit per year. By raising our national savings rate, we will build retirement security for American workers while putting our economy on a surer foundation. Jim strongly believes that these investments should be made in addition to, rather than instead of, the stable bedrock of Social Security income.
Medicare & Prescription Drugs
Medicare is a critical and successful program, but we can improve upon the Medicare prescription drug benefit while making it more cost-effective for seniors and for the government.
First, Jim believes that Medicare should negotiate for the lowest prescription drug prices, a commonsense move that is currently being blocked by a ban supported by Chris Shays. Second, Jim wants to give seniors the option of choosing a prescription drug plan administered directly by Medicare, easing confusion among seniors, lowering prices, and increasing administrative efficiency. Third, Jim will work to fill in the coverage gap or “doughnut hole” that currently limits many seniors’ access to vital medicines.
Long-Term Care
For many people in need of long-term care, living at home is a far better option than living in an institutional setting like a nursing home. Jim will work to make this kind of home-based care feasible for more of our seniors by increasing government support for family caregivers. For example, Jim will call on Congress to expand the National Family Caregiver Support Program, which funds local organizations that help family caregivers manage the burdens they face.
In addition, Jim believes that we have a societal obligation to ensure that no senior’s health is unwittingly entrusted to an inadequate provider. He will demand transparency and accountability in the long-term care industry by voting to publicly disclose the identities of the nursing homes on the government’s list of poorly performing facilities.
