Xavier Becerra United States Secretary of Health and Human Services | Official Website
The U.S. Department of the Treasury, along with other key departments, has released the annual Social Security and Medicare Trustees Reports following a meeting of the respective boards. The reports provide valuable insights into the financial health and future outlook of these crucial programs.
Secretary of the Treasury Janet L. Yellen emphasized the importance of Social Security and Medicare, stating, “Seniors spent a lifetime working to earn the benefits they receive, and the Biden-Harris Administration will continue to oppose cuts to either program.”
Acting Secretary of Labor Julie Su highlighted the administration's commitment to ensuring workers and their families can rely on these benefits, noting, “Over the last three years, near-record job growth has created the economic conditions to strengthen the Trust Funds.”
Health and Human Services Secretary Xavier Becerra underscored the administration's dedication to preserving Medicare for current and future generations, stating, “We will continue this work by negotiating the cost of prescription drugs, ensuring no one with Medicare goes bankrupt paying for lifesaving prescription drugs.”
Martin O’Malley, Commissioner of Social Security, shared positive news from the report, stating, “More people are contributing to Social Security, thanks to strong economic policies that have yielded impressive wage growth, historic job creation, and a steady, low unemployment rate.”
CMS Administrator Chiquita Brooks-LaSure emphasized the significance of Medicare as a lifeline for millions of Americans, stating, “The Biden-Harris Administration has taken action to reinforce the program and propose enhancements that would extend its solvency while strengthening benefits.”
The reports provide valuable information for policymakers and the public on the current status and future outlook of Social Security and Medicare. The efforts to protect and strengthen these programs are crucial to ensure financial security and healthcare for millions of Americans now and in the future.
