Hovde proposes putting Social Security into trust

(The Center Square) – Wisconsin Republican Senate candidate Eric Hovde said in a 2012 interview that he was in favor of raising the retirement age for Social Security, something that is the focus of a new political ad from incumbent Democratic Sen. Tammy Baldwin.

Hovde clarified his thoughts to the Milwaukee Press Club and on social media this week with a statement saying that his proposal won’t impact those nearing retirement or currently receiving Social Security.

Instead, his proposal applies only to those under the age of 40 because the Congressional Budget Office predicts that Social Security will have negative cash flow by 2033.

“If we don’t act now, Social Security will no longer be able to pay out full benefits,” Hovde wrote .

Hovde added he has never proposed to cut Social Security either, instead proposing to put Social Security in a trust so it cannot be used for other government spending.

“This should have happened from its beginning,” Hovde wrote. “For decades, Congress has treated Social Security like a piggy bank, pulling from it to fund their pet projects. This has to stop.”

Baldwin and Hovde have a scheduled debate at 7 p.m. on Oct. 18 in Madison.

Hovde spent plenty of time Tuesday discussing national debt and ending overspending by the federal government.

He did, however, say that he is for spending federal funds to replace lead pipes, a topic that President Joe Biden was in Milwaukee discussing on Tuesday. Biden announce the Environmental Protection Agency is supplying $2.6 billion to replace lead lines.

“Reality of it is, there’s not a lot of lead pipes anymore because typically a pipe will erode over a particular amount of time and they replace them,” Hovde said. “So I think it’s making … trying to act like it’s a bigger issue.

“The amount of lead pipes in this country are very small, but I think we should get rid of all of them.”

The Wisconsin Policy Forum wrote in 2023 that there are more than 150,000 lead service lines in Wisconsin, affecting at least 92 communities in the state. The group said that 37,000 lead lines were replaced or turned off between 2018 and 2023.