Speaker McCarthy Commission to Find Ways to Cut Government Spending, Including Social Security and Medicare, as Congress Passes Bill to Raise Debt Ceiling – Retired Americans

June 05, 2023

Speaker McCarthy Fee to Discover Methods to Reduce Authorities Spending, Together with Social Safety and Medicare, as Congress Passes Invoice to Elevate Debt Ceiling

Talking on Fox Information, Home Speaker Kevin McCarthy introduced plans to assemble a bipartisan fee to take a look at potential cuts to Social Safety, Medicare, and all federal authorities spending.

McCarthy spoke hours earlier than the U.S. Home of Representatives handed HR 3746 by a bipartisan vote of 314-117 to boost the nation’s borrowing restrict by means of 2024. The Senate permitted the invoice by a 63-36 vote on Thursday.

The brand new fee announcement got here as many hardline members of the Home Freedom Caucus revolted over the debt restrict deal McCarthy struck with President Biden. The committee can be shaped regardless of vehement Republican claims earlier this yr that Social Safety and Medicare cuts have been off the desk.

The debt ceiling settlement didn’t embrace cuts to Medicare, Medicaid, Social Safety, and different applications that tens of millions of seniors depend on. Spending to assist veterans was elevated. Nonetheless, People aged 50-54 who shouldn’t have dependents will now discover themselves ineligible for the SNAP (meals stamp) advantages they depend on if they’re unable to satisfy new work necessities.

“The deal struck by President Biden means Social Safety checks will arrive on schedule and Medicare is not going to be disrupted,” mentioned Richard Fiesta, Government Director of the Alliance. “Nonetheless, we can not let our guard down. Speaker McCarthy has made it clear that altering and slicing our earned Social Safety and Medicare advantages stays a precedence for his get together.”