Project 2025 could cost retirees thousands of dollars in Social Security benefits

ACT NOW: We need Supreme Court reforms Problems viewing this email? [View it in your browser]( [Center for American Progress]( InProgress from the Center for American Progress To make sure you never miss an email from us, please add progress@americanprogress.org to your contacts or safe senders list. Thanks for staying connected with us! The far-right plan that would cut Social Security benefits [A woman walks into a Social Security office in Houston.]( Photo credit: Getty Images For years, the congressional Republican lawmakers who make up the Republican Study Committee (RSC) have proposed increasing Social Security’s full retirement age—the age at which seniors become eligible to access Social Security retirement benefits without a financial penalty for retiring early. The full retirement age is 67 under current law, but the [RSC plan would push it back to 69]( leading to drastic benefit cuts for a large majority of Americans. Although many Americans are [opposed to raising the full retirement age]( the [Heritage Foundation]( has spearheaded the authoritarian playbook [Project 2025]( fervently supports this radical and detrimental policy change. If the RSC’s proposal were enacted, Social Security would be less adequate for future retirees and increase economic insecurity for low- and middle-income retirees. The Republican Study Committee reasons that these cuts account for [increases in life expectancy](. However, this rationale discounts findings that life expectancy has largely stagnated and even fallen in recent years, and people with lower incomes and less education—who tend to rely on Social Security the most consistently—have lower life expectancies. It also neglects current retirement trends that show that more than half of new retirees start to access their Social Security benefits earlier than the full retirement age despite the financial penalty incurred, with [nearly 840,000 people]( claiming their benefits at the age of 62 in 2023—the most of any age and the earliest opportunity one can begin receiving retirement benefits. If more than half of new retirees are claiming benefits early—often due to illness, job loss, and other circumstances—then increasing the retirement age would only serve as a punishment for not working longer, rather than a response to an overwhelming number of workers who are freely delaying retirement past the current full retirement age. Under this detrimental plan, America’s working and middle classes will have to brace themselves for more economic insecurity. [Learn More]( Congress, it’s time to reform the court This week, the Biden-Harris administration [announced]( a series of proposals to restore accountability to the U.S. Supreme Court, including 18-year term limits for justices and a binding and enforceable code of conduct. This momentum cannot be lost. Action to hold billionaire-backed judges on the Supreme Court accountable is necessary to safeguard the court's critical role for democracy, reinstitute trust in the Supreme Court, and protect the interests of everyday Americans. We need 18-year term limits and a binding code of conduct implemented now. Tell Congress: [DEMAND TERM LIMITS]( [DEMAND AN ETHICS CODE]( Progress is going for gold It’s been a huge week in Paris and a huge year for progress. Catch up on our highlights: [Snoop Dogg raising his glasses while watching the olympics with text over top that reads "Reading the MAGA proposals in Project 2025"]( Photo credit: Getty Images [SHARE THIS]( Innovative solutions for long-term affordable housing [Construction workers work on the foundation of a mixed-use affordable housing project in Overtown, Miami.]( Photo credit: Getty Images In 2024, a growing number of Americans are unable to find affordable housing. This is reflected in the substantial number of homeowners and renters who are “cost burdened”—that is, those who spend at least [30 percent]( of their household income on housing costs. Housing affordability and availability is a challenge for renters and homeowners alike, in communities across the country. Why is this happening? The root cause is an inadequate supply of housing units. The overall rate of production of new housing units has been too low for more than a decade, and the supply of single-family “starter [homes]( and affordable rental units has declined significantly. Solving the nation’s housing affordability crisis requires dual-track policy action. A new [Center for American Progress report]( outlines a framework of policies that will provide both near-term relief for acute problems and sustainable support for housing production and operating support. [Read the New Report]( Another solution to address the housing affordability crisis that is gaining support, including from the Biden-Harris administration, is [converting vacant offices into housing](. Ever since the COVID-19 pandemic altered how and where people work, there has been an increase in vacant office space in U.S. cities, as many employees began and continue to work from home. Given the root cause of the housing shortage—an inadequate supply of units—one advantage of this solution is time and cost savings: The structure, elevators, stairs, and parking lots of the building can be reused rather than built from scratch. Yet many challenges persist in making office-to-housing conversions viable, including financing, building layout, and the state of the local market. [Learn More]( Not only is housing a critical part of the nation’s infrastructure, but it also affects the health, wealth, and opportunities of every American each day. Taking steps to address housing affordability, including implementing innovative solutions such as converting office spaces, will be especially helpful to younger,as well as nonwhite or Hispanic, homeowners. Follow us on [Follow us on Twitter]( [Follow us on Facebook]( [Follow us on YouTube]( [Follow us on Instagram]( [Support CAP]( [Manage Email Preferences or Unsubscribe]( [Privacy Policy]( [Center for American Progress]( Center for American Progress 1333 H Street NW Washington, D.C. 20005 [supporter]