New funding streams are contextually different
Karen E. Smith et al. 20, Urban Institute, “Five Democratic Approaches to Social Security Reform,” Program on Retirement Policy, October 2020, https://www.urban.org/sites/default/files/publication/103050/five-democratic-approaches-to-social-security-reform-estimated-impact-of-plans-from-the-2020-presidential-campaign_0.pdf
The Social Security policy debate is intensifying. Social Security, the nation’s largest government program, provides cash benefits to retirees, people with disabilities, and spouses, dependents, and survivors. Those payments account for much of beneficiaries’ incomes, especially for low-income people. Yet, many older adults and people with disabilities struggle financially. Moreover, Social Security faces a long-term financing gap that could within a decade jeopardize its ability to pay full benefits. These challenges have prompted calls from many Democratic policymakers to expand Social Security benefits, especially for lower-income people, and to shore up the program’s finances.