BREAKING: Pence Supports Privatizing Social Security
February 3, 2023
Mike Pence announced one of his first policy positions of a potential 2024 campaign — partial privatization of Social Security, echoing extreme calls from Republicans that could put this critical program at risk and making it clear where he stands on what will be a key 2024 litmus test.
In response, DNC spokesperson Rhyan Lake released the following statement:
“Pence’s shameless support for partially privatizing Social Security is the latest salvo in his extreme agenda. As GOP hopefuls compete to capture the 2024 MAGA base, Pence and the rest of the prospective Republican field will continue to push for extreme proposals that could put Social Security and Medicare at risk.”
In one of his first policy proposals as he eyes entering the 2024 race, Pence backed partially privatizing Social Security.
Pence: “‘I think the day could come when we could replace the New Deal with a better deal. Literally give younger Americans the ability to take a portion of their Social Security withholdings and put that into a private savings account.’”
Every year they were in office, Mike Pence stood behind Donald Trump’s budget proposals that called to make cuts to Social Security and Medicare.
The Trump FY18 budget proposed a $70 billion cut to SSDI benefits.
Pence is far from the only Republican who has supported measures that could put Social Security at risk.
Yahoo: “Florida Gov. Ron DeSantis, widely considered to be Trump’s chief competitor for the nomination at the moment — if he decides to get in the race — regularly supported increasing the retirement age for Social Security when he was in Congress.”
Washington Post: “In recent days, a group of GOP lawmakers has called for the creation of special panels that might recommend changes to Social Security and Medicare, which face genuine solvency issues that could result in benefit cuts within the next decade. Others in the party have resurfaced more detailed plans to cut costs, including by raising the Social Security retirement age to 70, targeting younger Americans who have yet to obtain federal benefits.”