A majority of Americans are opposed to raising the retirement age for younger Americans to shore up solvency for Social Security, new polling finds.
A new poll conducted by left-leaning firm Data For Progress, first reported by Semafor, found that 65 percent of Americans surveyed were against raising the retirement age for Americans currently in their 20s.
A closer breakdown of that figure showed opposition extended beyond party lines for respondents, as 72 percent of Democratic-identifying respondents and 59 percent of Republican-identifying respondents also said it was “unfair” and “unrealistic” to expect younger Americans to work into their 70s. Sixty-five percent of respondents who identified as independents or third-party voters also said the same.
Less than 10 percent of Americans polled said they supported raising the full retirement age above 67, the current threshold for those born since 1960, with only 5 percent of Democratic-identifying respondents and 9 percent of Republican-identifying respondents backing the move. Just nine percent of independent and third party-identifying respondents also supported the same in the poll, which was conducted March 29-30, and surveyed 1,218 likely voters.
By contrast, the poll showed bipartisan support for upping taxes on the wealthy to extend solvency for Social Security, as proposed in the Social Security Expansion Act, which was introduced by Sens. Bernie Sanders (I-Vt.) and Elizabeth Warren (D-Mass.), among others, earlier this year.
“The bill would also increase benefits for all recipients by $2,400 per year. This would be paid for by increasing taxes on wealthy Americans,” respondents were told.
Asked if they supported or opposed the bill, 70 percent of Republican-identifying respondents polled said they somewhat supported or strongly supported the bill, compared to 85 percent of Democratic-identifying respondents who said the same. Seventy-seven percent of respondents identifying as independents or third-party voters similarly backed the bill.
New polling from The Associated Press and NORC Center for Public Affairs Research also showed a majority of Americans opposed raising the eligibility age to 70 for Social Security benefits, with 75 percent of respondents coming out against the idea, compared to 10 percent in favor.
Seventy percent of Americans in the new poll also opposed raising the eligibility age for Medicare benefits from 65 to 67, and most respondents, 58 percent, backed increasing taxes on households earning over $400,000 a year to help pay for Medicare.
The polling comes as the matter of solvency of both programs has drawn more attention on Capitol Hill over the months.
In late March, a board of trustees for Social Security’s accounts said in a report that reserves for Social Security’s largest trust fund, which pays out benefits to retirees, are on track to run out as soon as 2033.
At the same time, the trustees for the Medicare accounts moved their insolvency projection for the Hospital Insurance Trust Fund back some, finding the fund would be able to “cover 100 percent of total scheduled benefits until 2031.” The estimate is three years later than previously projected.