I welcome an opportunity to review any proposals concerning Social Security that will address the program's long-term financial viability. Ultimately, plans must not destroy the fundamental purpose of the program, which is to provide a guaranteed basic benefit level of income for retired workers in their later years. Every American should know to the dime what his or her Social Security benefit will be. I believe it is possible to enact meaningful adjustments to the Social Security program that will ensure the long-term solvency of Social Security, and that the sooner we enact such changes, the less harsh those changes will need to be. I look forward to working with all of my colleagues in Congress, as well as the President, to find a smart solution to ensure a level of basic security and dignity for elderly Americans who have invested a lifetime of work into the program, as well as future generations.
I also will continue to protect the value of the Cost of Living Adjustments (COLAs) that Social Security beneficiaries receive each year. I have long supported legislation that would ensure that rising Medicare costs do not consume more than 25% of a senior's COLA each year. This legislation will provide some relief to seniors from rising Medicare premiums, helping ensure that their Social Security COLAs remain available for other necessities, such as the rising costs of energy and health care.