Congress: It's time to put seniors before CEOs!

Dear U.S. Senators / U.S. Representatives:

Next year, seniors won’t get any raise at all while the cost of Medicare is increasing significantly — and millions of beneficiaries who rely on Social Security just to stay out of poverty will face a tough road ahead.

Yet, while millions of older Americans and their families are struggling just to make ends meet, CEO salaries continue to skyrocket. In fact, CEO pay for the top 350 U.S. firms increased by 3.9% last year. More incredibly, the 100 largest CEO retirement funds are worth a combined $4.9 billion. That’s equal to the entire retirement account savings of 41% of American families!

There’s nothing wrong with being successful in business or making honest profits. But taxpayers like me are the ones helping to subsidize these exorbitant salaries through an outrageous loophole that allows corporations to write off oversized executive bonuses as a business expense for “performance pay.” When measured against the zero Cost-of-Living Adjustment (COLA) that the government is forcing Social Security recipients to swallow next year, it’s clear the rules in Washington favor the wealthiest at the expense of hard-working Americans. That’s why I believe it’s time for you and all members of Congress to put seniors before CEOs.

And that’s why I urge you to support Senator Elizabeth Warren’s (MA) important new bill, the “SAVE Benefits Act,” which would give all Social Security beneficiaries a one-time emergency benefit payment equal to a 3.9% pay raise (approximately $580), close corporate compensation tax loopholes and extend Social Security’s long-term health.

It’s time to give retirees, workers with disabilities and veterans a much-needed boost to their earned benefits. Thank you for representing the best interests of millions of older Americans as you work to protect and strengthen Social Security for current and future generations.