Ranking Member Larson Grills Commissioner Bisignano on Trump Crisis at Social Security, Calls for Billionaires to Pay Their Fair Share

Image June 10, 2026 Press Release Washington, D.C. - Today, House Social Security Subcommittee Ranking Member John B. Larson (CT-01) pressed Trump’s hand-picked Social Security Commissioner, Frank Bisignano, on the urgent need to lift the cap on the ultra-wealthy to extend protect beneficiaries from cuts and slammed Republicans for congratulating themselves on misleading customer service efficiency numbers while beneficiaries struggle to afford daily necessities. Yesterday’s Trustees Report confirmed that Congress must act, as failed Trump policies, including the Big, Ugly Bill, have moved Social Security’s insolvency closer than ever. Inaction will lead to the average senior losing about $500/month in Social Security benefits. While Democrats, led by Ranking Member Larson, are ready to protect Social Security and enhance benefits by making the wealthy pay their fair share, this week, Speaker Mike Johnson, an architect of the House Republican budget that would raise the retirement age, reiterated his call to cut benefits . View Ranking Member Larson’s remarks here. “Make no mistake about it—Trump officials are out to privatize your hard-earned benefits,” said Larson. “Yesterday’s Trustees Report confirmed what we had already suspected. This administration’s policies have moved insolvency closer than ever, and Connecticut seniors will be hit the hardest if no action is taken. Democrats are ready to act to not only protect Social Security from cuts, but enhance benefits, by making the wealthy pay their fair share. Commissioner Bisignano can brag about efficiency all he wants, but what does that really mean? Do they expect the millions of Americans who get below-poverty level checks from Social Security to starve more efficiently? They have no plan.” Read Ranking Member Larson’s full remarks, and Commissioner Bisignano’s response, below: Larson:  Well, thank you again, Mr. Chairman. Let me start by saying, do you believe the billionaires should pay their fair share of Social Security? Bisignano:  I believe whatever the law is, should be upheld. Larson: Pardon, the what? Bisignano: Whatever the law is, should be upheld. Larson: So, if you’re Elon Musk and don’t pay anything into Social Security, that’s okay with you? Bisignano: I'm not the dictator. Larson: So here we are before the committee and you're telling us how more efficient you are. So, you're more efficient. How are the 5 million Americans, fellow Americans, most of them women who are getting below poverty level checks from Social Security, are they able to starve more efficiently? Is that the goal here—that we're able to send them their below-poverty level check more efficiently? I guess so. So, that's a great thing. We should all be doing cartwheels and celebrating. How about the 40% of the people who this is the only benefit that they have. So, the only benefit that they have in retirement—you're saying to them, look what we've done for you. We're getting you that check more efficiently. Isn't that wonderful? Sounds to me more like when you look at everything that's being done and nothing that's being done on behalf of the people that Social Security was meant to serve and props up our whole system of free enterprise and capitalism, we're saying, don't worry, we're getting it to you more efficiently. How about we get them something they can live on and sustain themselves on? This is what this committee should be doing, and I would expect from our agencies, and I know everything's Joe Biden's fault, etcetera, but I have to say—was Joe Biden wrong to say that we should lift the cap on people making over 400,000? Was that wrong? Mr. Secretary? Bisignano: Is that a question? Larson: Yes, it is a question. Bisignano: Um, I would say that the fact of the matter is Congress, and that would be led by yourself as ranking member here, has a responsibility to decide what they want to work on. The commissioner’s job... Larson: That’s not what the question was. The question was do you think... Bisignano: I’m answering...I’m answering a reality... Larson: You’re answering the way you want to answer it. I asked the question; do you think that we should lift the cap on making people making over 400,000? Raise your hand in the audience if you're making over 400,000. Raise your hand on the dais if you're making over 400,000. And yet, nobody here in this room is making over 400,000, and yet people are, and yet that Joe Biden...boy, that guy. What an awful thing to say that those people, as difficult as this may be, that they're going to have to pay what all of you pay for Social Security. Wow, what an incredible burden he's just placed on people that Joe Biden, you know, that guy who wanted to see people pay their fair share into the most significant insurance program the nation has ever had, so people can live out their lives in dignity instead of living in poverty more efficiently. This hearing should be about focusing on what we need to do for the American people. Everyone on this dais knows that it's been over 55 years since we've enhanced Social Security across the board, and who's going to benefit from that? Where do the people in your district spend the money they receive from Social Security? On average, over $280 million in every congressional district, and oh, wouldn't it be something if that were increased? That would actually allow, not only them to live in dignity, but how about helping out every single local business in all of your districts who that money will go directly back to by way of purchasing groceries, pharmaceuticals, paying their rent, their mortgage, putting gas in their car, and instead we're sitting, watching, and everybody on this dais knows, and I'll keep on saying it—this is about the privatization of Social Security. It's not about helping these people out. Issues : Congressman Larson's Committees Social Security Standing Up to Trump and ‘DOGE’