Breaking news on WEP & GPO

October 29, 2021: Weekly Report
By Shawn Duhamel
Every so often something unexpected happens in life that has the potential to become truly beneficial. In this case, I am referring to a new federal bill that proposes the biggest overhaul of Social Security since 1983.
What makes this notable, beyond the improvements to Social Security that would result, is that for the first time ever, the bill contains a provision fully repealing both the Windfall Elimination Provision (WEP) and Government Pension Offset (GPO). The bill’s sponsor, Congressman John Larson (D-CT), is the Chairman of the Social Security Subcommittee.
Watch today's video report here!
A former public-school teacher in Hartford, CT, Larson has filed similar bills in previous sessions – all with one glaring omission, no prior mention of WEP or GPO!
Click here for a full summary of H.R. 5723.
That said, we remain in full support of Richie Neal’s proposal H.R. 2337. While this bill serves to enact a modest reform of the WEP only, it continues to be the most viable path toward providing immediate relief to our members who are now harmed by the WEP.
Larson’s bill, while highly desirable for public retirees, faces a very long and hard-fought battle to becoming law. The improvements contained within the bill, including WEP and GPO repeal, are paid for by a payroll tax increase on individuals with income exceeding $400,000 a year. As it now stands, Social Security payroll taxes are capped at the first $142,800. Income above that amount is not subject to the payroll tax. Republicans are already on record opposing all potential tax increases. This means that the bill is highly unlikely to pass the US Senate under its current makeup.
This brings us back to H.R. 2337, which is widely viewed as the compromise to full repeal. As we report again in the November edition of The Voice, we do believe there to be a viable path toward passage for WEP reform in the current Congressional session.
The fact that this issue has now become part of the mainstream conversation on the future of Social Security is a significant and positive step forward. Our members have played a key role in helping to make this happen. Thank you for the support you continue to provide.