Collins Proposes Bipartisan Group to Advise on Social Security Tax Cap
1 report, 1 independent
Updated Wed 00:00
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What happened
Senator Susan Collins stated that a bipartisan group of financial experts, potentially led by Mitt Romney, should recommend changes to Social Security. Collins also noted that high earners should pay more into the program and discussed adjusting the cap on income subject to Social Security taxes.
Why it matters
The discussion centers on potential structural changes to Social Security tax policy, including adjusting the income cap. Collins cautioned that any changes must be carefully structured to avoid negatively affecting small businesses.
Who's involved
- Mitt RomneySuggested to lead a bipartisan group of financial experts to advise on Social Security.
- CollinsProposed the bipartisan group and discussed adjusting the Social Security tax cap.
- JacksonIs running in a pivotal November race against Susan Collins.
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The entities involved
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Jackson
capital and largest city of Mississippi, United States
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Mitt Romney
American politician and businessman (born 1947)