CRFB's Ed Lorenzen Testifies to Congress on SSDI
This afternoon, Ed Lorenzen, Senior Advisor for the Committee for a Responsible Federal Budget, will testify in front of the Ways and Means Subcommittee on Social Security on maintaining the solvency of the Social Security Disability Insurance Trust Fund.
Without congressional action, the trust fund reserves will be depleted next year. The exhaustion of the DI fund, one of the upcoming fiscal speedbumps, would result in a roughly 20 percent across-the-board benefit cut. The President has proposed reallocating money from the Old Age fund to bolster the DI fund. This measure, known as a reallocation, has sparked much debate after a new House rule was adopted requiring legislation implementing such a transfer to also include reforms.
You can see an archived version of the testimony here (in two parts) or from the Ways and Means streaming website.
To learn more:
- Read Lorenzen's full testimony.
- Read out blog on common myths about SSDI.
- Read a commentary by former Reps. Jim Kolbe and Charlie Stenholm explaining why Congress can’t dodge the problems facing the disability insurance program.