WASHINGTON, D.C. – Today, Senator Rick Scott released a weekly update on his actions to address America’s debt crisis and rising inflation. Since President Biden took office, his so-called “Bidenomics” agenda has hurt Americans and their wallets, bringing inflation up to over 17% and bankrupting families across the country—especially hurting seniors on a fixed income. Senator Scott continues working hard to protect seniors from Washington’s dysfunction and the pain caused by President Joe Biden’s raging inflation crisis, including three years of failed leadership that has endangered critical entitlement programs and pushed Social Security and Medicare closer to insolvency. Earlier this Congress, Senator Rick Scott announced his Protect Our Seniors Act to preserve these programs to provide peace of mind to the seniors who rely heavily upon them to make ends meet.

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Senator Scott’s Protect Our Seniors Act includes three key provisions to protect the benefits of Social Security and Medicare and promote the long-term solvency of these critical programs:

• Rescinds funding from the Inflation Reduction Act for 87,000 new IRS agents and redirects those funds to the Medicare and Social Security Administration Trust Funds to help shore up the solvency of each program.
• Creates a Budget Point of Order, and requires a two-thirds vote, against any legislation that the Congressional Budget Office (CBO) determines would reduce or cut existing Medicare and Social Security benefits.
• Amends CBO scoring laws such that savings to Medicare cannot be used to offset or pay-for spending outside of Medicare.
• NOTE: This tactic was used by Democrats for the “infrastructure bill” as well as the Inflation Reduction Act where Medicare savings were used as ‘pay-fors’ for green new deal projects and other wasteful spending.

Since being elected to the U.S. Senate, Senator Scott has repeatedly urged action to address America’s debt crisis and the harmful effects of inflation. Click HERE for a comprehensive list of his statements and actions on this urgent issue and HERE for Senator Scott’s Quarterly Economic Snapshot.

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