Threats to Social Security loom large for SMART-TD Union bus operators and railroads across the country
In a recent Washington Post article, the Committee for a Responsible Federal Budget, a bipartisan group aimed at opposing federal deficits, states that “a new report finds that funding for the Social Security Trust Fund will increase within six years. “We predict that there is a possibility of depletion,” he was reported to have said. Under President Donald Trump. ”This alarming forecast raises serious concerns for all members of our union, especially those in the bus sector, and for retirees across the country who rely on Social Security for their retirement. .
Railroad employees and retirees who benefit from defined pensions provided by the Railroad Retirement Board quickly learn that the RRB pension is completely separate from the Social Security system that most Americans pay for. point out. That’s not as true as we think. It is true that the RRB Trust Fund and the Social Security Trust Fund are separate money. It is also true that the RRB trust fund is in better shape than the SS trust fund. However, Social Security remains the national standard, and when policies change, RRBs tend to follow suit. It is clear that if SS funds are depleted and they begin to reduce payout percentages, RRBs may reflect policy changes related to how Tier I retirement benefits are managed. So when Social Security payments are cut, railroads are very likely to feel the same squeeze as all other American retirees.
If social security in this country dries up, it is not a problem for bus members or railroad members. That becomes a SMART-TD issue.
Social Security’s ability to pay directly affects bus and transit operators and retirees across the country. Most Americans rely on Social Security and have faithfully contributed to it throughout their careers. They have paid their fair share for a system designed to provide them with financial security in retirement. It is unacceptable that, after a lifetime of working, they could face an uncertain future due to reckless fiscal policy.
The Washington Post article highlights a harsh reality. “Compared to previous presidential campaigns, it is hard to think of anything President Trump has proposed that would have a more negative impact on Social Security revenues,” said Mark Goldwein, Committee for a Responsible Federal Budget. A senior policy director told the paper. These proposals, which include massive tax cuts for business owners and corporate bailouts, threaten to deplete the very retirement savings that our members have worked so hard to build.
The potential impacts, as the report outlines, are severe. “Taken all together, the report found that Social Security under the Trump administration would reach the point where benefits would have to be legally reduced in 2031 or 2032,” which would “lead to cuts in all Social Security benefits.” The projected reduction in checks is approximately 33 percent. ”
For workers and retirees who rely on Social Security, this represents a significant and devastating reduction in the retirement benefits they expect and deserve after years of dedication and service to the public and unions. means.
SMART-TD will not accept agreements from transit or rail companies that reduce members’ salaries by 33%. This is unacceptable to active members and unacceptable to retired members of the public.
This situation represents a shocking mistreatment of American workers, especially for our SMART-TD brothers and sisters. The threat to Social Security is not just an economic issue. For SMART-TD, it’s a moral thing. Our members deserve what they have worked for, and it is our responsibility to oppose the policies of any employer, in this case a presidential candidate, that endangers their safety.
As we move forward as a union, we must remain vigilant in advocating for the protection and strengthening of social security. It is important to raise our voices and demand that the rights of all workers are protected. The future of our retirement security is at stake. Together, we can fight to ensure that our hard-earned benefits are preserved for future generations.
