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House Social Security Subcommittee chair opens first hearing with warning on trust fund, cites wait-time improvements
Summary
The Social Security Subcommittee chair opened his first hearing and welcomed newly confirmed Social Security Commissioner Frank Pisinano, citing last week’s trustees report that projects the retirement trust fund will be exhausted in just over seven years and outlining recent customer-service metrics and backlogs.
The Chair of the House Ways and Means Social Security Subcommittee opened his first hearing and welcomed Frank Pisinano, the recently confirmed commissioner of the Social Security Administration, for his first appearance before the panel.
“Without congressional action, Social Security’s retirement trust fund will be exhausted in just over 7 years, which would result in equivalent of a 23% across-the-board benefit cut,” the Chair said, citing last week’s…
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