OR-Sen: Jeff Merkley (D), "It’s time to give seniors a modest raise"

DailyKos:

In case you didn't hear the good news: http://www.oregonlive.com/...

Oregon Sen. Jeff Merkley is joining a small group of Senate Democrats calling for an increase in Social Security benefits -- an issue that could reverberate in his re-election race this year. Merkley argued that with a decline in private pensions, people are relying more than ever on Social Security to be able to have a comfortable retirement.  He chaired a subcommittee hearing Wednesday on the topic and issued this statement afterward: "With traditional pensions available to fewer people and ordinary families facing risks and difficulties in saving enough for retirement through 401(k)s and IRAs, the landscape of retirement is changing and we must act. It’s time to give seniors a modest raise and change cost-of-living adjustments to reflect the real costs seniors face.” - The Oregonian, 3/13/14

With all the talk about raising the minimum wage (which I strongly support), Merkley has given his colleagues a great line to use in promoting expanding Social Security, "giving seniors a raise": http://www.washingtonpost.com/...

This puts Merkley in a small but growing camp that is advocating for an idea, first put forward by Dem Senator Mark Begich of Alaska, that would lift or change the payroll tax cap, meaning higher earners would pay more, while adopting a new measure for inflation that would increase benefits for all seniors. That measure is rooted in the idea, as Merkley put it in his release, that “seniors are more likely than others to spend large percentages of their income on costs that have risen faster than inflation, such as housing and medical care.” Senators who now support making Security more generous include Merkley, Begich, Elizabeth Warren, Sherrod Brown, and Bernie Sanders. The interesting political angle here is that Merkley and Begich are both up for reelection this year. Begich is facing one of the most competitive reelection fights of the cycle, while Merkely will almost certainly face a somewhat less competitive, but still substantial, challenge. A Democratic aide confirms to me that Merkley will campaign on strengthening Social Security in a way that includes the push to make benefits more generous, not less. “Strengthening social security and putting a few extra bucks in seniors’ pockets is good politics,” the aide tells me. “Democrats shouldn’t run away from their strength on Social Security. In fact, they should put it front and center. Social Security is a successful government program that’s been central to the Democratic Party’s identity for decades.” This is in line with what some progressives have been advocating. They argue that getting dragged on to GOP austerity turf with proposals like “Chained CPI,” which would cut benefits, would dilute the contrast between the parties and undercut a traditional Democratic strength. By contrast, campaigning on strengthening social insurance programs — at a time when stagnating wages and the lingering damage of the Great Recession have increased anxieties about financially unsustainable retirement – would be better politics. - Washington Post, 3/13/14

Merkley has been a strong advocate of Social Security and has defended the program's importance: http://www.statesmanjournal.com/...

Merkley said middle-class Americans are often unable to save more for retirement and are squeezed by stagnant wages, lower home values and rising student-loan debt. Employers are also increasingly moving away from pension programs, which offer income for life, in favor of 401(k) accounts, which go up and down depending on the stock and bond markets. "All of these challenges greatly amplify the importance of Social Security, which provides on average about 40 percent of income for seniors and disabled Americans and creates a safety net for workers and their families," Merkley said. Much of the discussion at the hearing was not about Social Security but on fees charged by employer-sponsored 401(k) retirement plans and Individual Retirement Accounts, or IRAs. Sen. Elizabeth Warren, D-Mass., urged Congress to require 401(k) plan managers to clearly explain how fees will erode participants' savings and pushed for requiring IRA managers to disclose their fees, which they don't have to do now. - Statesman Journal, 3/12/14

Very happy to have Merkley on board.  Haven't written about Merkley in a while so here's a little more about what he's been up to.  He's helping out the unemployed: http://www.oregonlive.com/...

A bipartisan group of 10 senators, including Oregon Democratic Sen. Jeff Merkley, reached a deal Thursday on providing extended unemployment benefits for people who have been out of work for more than six months. The Senate deal would retroactively restore the benefits that lapsed when the aid expired on Dec. 28 amid partisan recriminations.  Democrats hammered Republicans for refusing to provide continued aid while GOP senators said the Senate Majority Leader Harry Reid, D-Nev., was unwilling to negotiate with them on an acceptable package. The new deal -- reached in a marathon negotiating session among five Democrats and five Republicans -- includes concessions made by both sides.  Politico said that support from Merkley and other progressives "illustrates a broad well of Democratic support for the bill, which lawmakers hope can prematurely quell any rebellion by liberals over concerns that too much was given to the GOP." - The Oregonian, 3/13/14

And he helped get flood insurance passed: http://insurancenewsnet.com/... Today, the U.S. Senate passed legislation based on a proposal by Oregon's Senator Jeff Merkley that will delay flood insurance rate hikes threatening Oregon homes and businesses. The legislation heads to the President's desk to be signed into law.

In September, Merkley held a hearing in his Economic Policy Subcommittee on the extreme rate hikes that were being proposed as a result of the 2012 Biggert-Waters Act. He then convened a bipartisan group of Senators to work on legislation delaying these rate hikes, and in October they introduced the Homeowner Flood Insurance Affordability Act. That bill passed the Senate in January and last week, the House debated and approved the bill. With today's vote to approve the House's changes to the legislation, the Senate acted to provide immediate relief to homeowners who are facing unaffordable flood insurance premiums. "Something is very wrong when homeowners are more worried about raging flood insurance premiums than raging flood waters," said Merkley. "Working Oregonians are squeezed from every direction, and the last thing they needed was another huge expense in their monthly budgets. I'm glad Congress has been able to put aside the partisan gridlock and work to find a real solution that makes a big difference for middle class families." The bill gives homeowners immediate relief from rate hikes and ends a policy that would have required many new homeowners to pay thousands of dollars in annual flood premiums regardless of what the previous owner paid. That provision had made it difficult for certain Oregon families to sell their homes. - Insurance News, 3/13/14

Merkley continues to kick ass and take names.  Lets be sure to keep him in the U.S. Senate.  Please do donate or get involved with his re-election bid:

http://www.jeffmerkley.com/

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