With all due respect, we discussed this plan back in early November, several weeks ago. The legislation was proposed by Senator Harkin, and originally cosponsored by Senators Schatz (HI), Begich (AK), and Brown (OH).
In a town consumed by how quickly and how deeply to cut Social Security, a handful of Democratic senators have a different idea: expand it.
Their pitch is to grow Social Security benefits by attaching it to a new formula, known as CPI-E (Consumer Price Index for the Elderly), which is based on the theory that seniors face higher-than-average price increases, such as on health care and housing. It would be paid for by phasing out the cap on wages subject to the payroll tax, which is currently $113,700. Supporters say this would raise Social Security compensation for all beneficiaries by $70 per month.
Legislation to this effect was introduced earlier this spring by Sen. Tom Harkin (D-IA), the chairman of the Senate Health, Education, Labor & Pensions Committee. The Strengthening Social Security Act of 2013 has since been co-sponsored by Sens. Brian Schatz (D-HI), Mark Begich (D-AK) and Sherrod Brown (D-OH), who added his name this week.
http://talkingpointsmemo.com/dc/liberals-expand-social-security-don-t-cut-it
With all due respect, Senator Warren doesn't deserve any more credit for this proposal--and probably less--than Senator Harkin and his original cosponsors. Credit where credit is due.