Lubbock Times

Four finalized rules from the Social Security Administration have drawn criticism from key Republican committee leaders, who argue that these measures represent an expansion of federal power by the Biden-Harris Administration at a significant cost to taxpayers. The letter, penned by House Budget Committee Chairman Jodey Arrington, House Ways and Means Chairman Jason Smith, Work and Welfare Subcommittee Chairman Darin LaHood, Social Security Subcommittee Chairman Drew Ferguson, and House Budget Committee Oversight Task Force Chair Jack Bergman, was addressed to Social Security Commissioner Martin O’Malley.

The rules are expected to add $37 billion in new spending within the Social Security Disability Insurance (DI) and Supplemental Security Income (SSI) programs over the next decade. According to the letter's authors, this spending is not offset and will increase the national debt while potentially harming the financial health of Social Security programs.

Critics highlight that these rules were finalized as projections indicate that the combined Social Security Trust Funds may become insolvent within ten years. The letter accuses Democrats of using misleading justifications for these proposed changes.

"Under your leadership," states part of the letter directed at Commissioner O'Malley, "the Social Security Administration (SSA) has quietly finalized four rules that continue the Biden-Harris Administration’s parade of regulatory overreach that circumvents Congress and costs taxpayers billions just months before the 2024 election." It further notes that despite claims made during a March hearing about reducing administrative burdens and simplifying benefit calculations, "the SSA estimates these rules would increase program costs by nearly $40 billion while resulting in less than $1 billion in administrative savings."

The authors emphasize their concerns regarding increased costs contributing to the depletion of Social Security Trust Funds. They cite projections from the Congressional Budget Office indicating potential insolvency issues within a decade.