Top Republican suggests raising Social Security full retirement age to 70

Republican-held Congress might look to raise the retirement age to 70, House Minority Leader John Boehner (R-Ohio) suggested Monday June 28. Boehner, the top Republican lawmaker in the House, said raising the retirement age by five years, indexing benefits to the rate of inflation and means-testing benefits would make the massive entitlement program more solvent. “We’re all living a lot longer than anyone ever expected,” Boehner said in a meeting with the editors of the Pittsburgh Tribune-Review. “And I think that raising the retirement age — going out 20 years, so you’re not affecting anyone close to retirement — and eventually getting the retirement age to 70 is a step that needs to be taken.” The GOP leader said Social Security was the most important entitlement to reform, though he also pledged Republicans would bring legislation to the floor to repeal and replace the health care reforms passed earlier this year if the GOP wins back control of the House this fall.

Source: The Hill (June 29, 2010)