SR0039 104TH GENERAL ASSEMBLY

SR0039 LRB104 10015 ECR 20086 r

SENATE RESOLUTION

WHEREAS, Social Security is a vital program that provides economic security for millions of American workers and families, ensuring that those who have contributed to the system are supported in their retirement years; and

WHEREAS, Social Security serves as a critical source of income for approximately 70 million beneficiaries, including retirees, disabled individuals, and surviving family members, many of whom rely on these benefits to meet their basic living expenses; and

WHEREAS, The average life expectancy in the U.S., while having improved over the past century, varies significantly across different income groups, with lower-income individuals, workers in physically demanding jobs, and certain minority groups facing shorter lifespans; and

WHEREAS, Raising the Social Security age would reduce the overall pool of retirees who would no longer be able to fully participate in the economy, which would have negative consequences on consumer spending, one of the key drivers of economic growth; and

WHEREAS, Retirees who rely on Social Security benefits often contribute significantly to local economies by spending their benefits on necessities such as housing, healthcare, food, and transportation, thus stimulating demand for goods and services, which in turn supports jobs and local businesses; and

WHEREAS, Research has shown that delaying retirement or working past a certain age is not always feasible for older workers, especially in sectors requiring physical labor, leading to potential increases in unemployment or underemployment for older Americans; and

WHEREAS, Many people in the U.S. have faced economic challenges over the past several decades, including the effects of the COVID-19 pandemic, stagnant wages, and increasing healthcare costs, and raising the Social Security age would further exacerbate these hardships for millions of American families who have already struggled to save for retirement; therefore, be it

RESOLVED, BY THE SENATE OF THE ONE HUNDRED FOURTH GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we urge Congress to reject any proposals to raise the Social Security retirement age and instead focus on strengthening and securing the program to ensure it provides the necessary benefits to millions of Americans nationwide.