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Will Social Security get any play on Capitol Hill in 2017?

The Social Security Reform Act of 2016, sponsored by Rep. Sam Johnson, R-TX, would begin increasing the eligibility age for benefits beginning in 2023, until the retirement age reached 69 by 2030 and eliminates COLAs for some beneficiaries beginning in 2019.

By Nick Thornton | Updated on December 28, 2016
The Social Security Reform Act of 2016 was introduced recently, sponsored by Rep. Sam Johnson, R-TX. (Photo: AP)

Before the holiday break, the Congressional Budget Office, Congress’ non-partisan bean counters, dropped its latest prediction on the solvency of Social Security.

This year’s projected shortfalls are larger than those released in 2015, owing to several factors, including lower expected interest rates and lower expected GDP growth, according to CBO.

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Nick Thornton

Nick Thornton

Nick Thornton is a financial writer covering retirement and health care issues for BenefitsPRO and ALM Media. He greatly enjoys learning from the vast minds in the legal, academic, advisory and money management communities when covering the retirement space. He's also written on international marketing trends, financial institution risk management, defense and energy issues, the restaurant industry in New York City, surfing, cigars, rum, travel, and fishing. When not writing, he's pushing into some land or water.

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