Braley Fighting to Save Social Security from Joni Ernst PDF Print E-mail
News Releases - Politics & Elections
Written by Braley for Iowa   
Tuesday, 01 July 2014 11:38
Ernst would privatize Social Security, putting an end to guaranteed benefits and risking Iowans’ retirement on Wall Street
Des Moines, IA – Braley for Iowa responded today to state Sen. Joni Ernst’s latest effort to hide from her plan to privatize Social Security:

Braley for Iowa Communications Director Jeff Giertz said, “Bruce Braley is fighting to save Social Security from Joni Ernst, who would privatize the program, end guaranteed benefits, and put Iowans’ retirement savings in the hands of the Wall Street billionaires supporting her campaign. Even Ernst admitted her plan would cost taxpayers more, increasing the Social Security shortfall by $2.2 trillion. When it comes to protecting Iowans’ retirement security, Bruce Braley fights for working families and Joni Ernst puts her extreme ideology before Iowans.”

Braley for Iowa released a report yesterday highlighting the devastating impact of Joni Ernst’s plan to privatize Social Security for Iowa seniors. Among the findings: privatization plans like the one supported by Ernst could reduce traditional benefits by as much as half for future retirees, and if this plan were in place during the economic downturn, an average earner retiring in 2008 could have lost $26,000.

Rep. Bruce Braley is traveling across Iowa this week on his Protect Social Security and Medicare Tour, listening to Iowans discuss the importance of the programs to their retirement security and discussing his efforts to save Social Security from risky privatizations schemes that end guaranteed benefits and put Iowa seniors’ retirement in the hands of Wall Street.

Braley has also opposed efforts to reduce future Social Security benefits for retirees if cost-of-living increases were shifted to a so-called “chained CPI” calculation. Last month, Braley earned the endorsement of the National Committee to Preserve Social Security and Medicare PAC for his strong record of fighting for Social Security and Medicare. And just last week, Braley introduced legislation to block planned service reductions at 19 Social Security offices in Iowa.

In contrast, State Sen. Joni Ernst has called for privatization of Social Security, a position that would undermine benefits for current retirees. Sen. Ernst has also supported plans that would transform Medicare as we know it and pave the way for Medicare vouchers, increasing costs for retirees.

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