Without policy intervention, Social Security benefits will fall due to current recession

Researchers at the Center on Budget and Policy Priorities (CBPP) argue that policymakers should include a fix in the next COVID-19 relief bill to address decreases in Social Security benefits caused by the current recession. The recent unemployment increase and decrease in annual earnings for many workers will result in a decrease in the economy-wide average wage. Due to the way Social Security benefits are calculated, someone turning 60 in 2020 will receive less in benefits than that same earner would have if they were turning 60 in 2019. This unfair outcome can be avoided by adding a protective Social Security provision. #covid-19

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