Grassley Questions Witnesses at Senate Finance Committee Hearing on Addressing Social Security Solvency, Urges Bipartisan Cooperation

WASHINGTON – Sen. Chuck Grassley (R-Iowa), a senior member and former chairman of the Senate Finance Committee, questioned witnesses about the need for bipartisan cooperation to address Social Security’s long-term solvency. During a floor speech last week, Grassley noted retirees will see a 22% cut in benefits around late 2032 unless Congress takes action. VIDEO On bipartisan cooperation and commissions: For any Social Security reform proposal to succeed, it will require the support of at least 60 senators. So, that means both parties working together to find a solution. Outside of the 1983 commission, are there examples of a commission or other special process that successfully sparked bipartisan cooperation and action? On ways to promote bipartisanship and identify solutions: I understand you both oppose any sort of commission-based process. Instead, you contend Congress should address Social Security through regular committee and floor processes. I respect that view. I'm open to any process that will facilitate the bipartisan cooperation that's necessary, with emphasis upon the word bipartisan. What are some actions your groups are taking or plan to take to help foster bipartisan cooperation and discussion of Social Security? On the importance of taking immediate action to protect Social Security’s future: I see a lot of AARP ads on television. I’ve got a little bit of advice for you. But, you're no different than a candidate Trump and a President Biden. They all ran on a platform of “We're not going to do anything about Social Security.” And your TV advertisements are saying, “We aren't going to cut Social Security.” I don't blame you for defending the program that way, but we’ve got to wake this entire nation up to the fact that there's going to be 22% cuts if we don't do something right now. And you ought to spend some of your money waking up people to the fact that there's a crisis down the line. And you say don't cut Social Security, but it's going to be cut automatically if you don’t wake the people of this country up. And, that's what I advise you to do because you’ve got a big voice. -30-