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John Larson: “Currently [the Social Security cap] is $173,000.”

Featuring: John Larson, Democratic | U.S. House Connecticut, 1st Congressional District

Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal

Published April 3, 2025 | Video Starts at 10:22

Again, commend President Biden for saying very simple, everybody ought to pay their fair share. A lot of Americans don't understand or realize that there's a cap on Social Security. Currently [the Social Security cap] is $173,000. So anything above that you're not paying into Social Security. Should elon Musk at $500 billion be paying into Social Security? Absolutely. All right, so what Biden proposes to lift the cap on people making over 400,000. (10:22–12:18)

CLAIM

Asserts that the current cap for Social Security contributions is $173,000.

This is an excerpt from a raw transcript. The assertions have not been audited or verified. Tap the video to view the source footage and understand the context.

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John Larson

“The administrative budget [for Social Security] is under 1% for the largest insurance program that the nation has.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 07:35-07:44
“There are 73 million Americans that are currently receiving Social Security.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 10:18-10:30
“10,000 baby boomers a day become eligible [for Social Security].”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 10:18-10:30
“Since 1983, people have been double taxed when they find themselves working after their retirement.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 10:33-10:42
“Mr. Trump seems to be single minded and single focused on his concept of tariffs and what that will mean.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 00:57-01:08
“He's started a trade war.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 01:16-01:19
“By [lifting the cap], we not only extend the solvency of the program, but we're able to add these critical benefits.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 01:28-12:45
“Rich Neal, our ranking member on the Ways and Means Committee has already called and Harkin and Democrats are united in this fact that we…”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 03:39-03:53
“Susan Delbene has also proposed, and I'm a co sponsor of that bill, the Prevent Tariff Abuse Act.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 04:22-04:30
“Congress adjourned on Tuesday this week because Speaker Johnson didn't want them here to have to deal with this broad, sweeping announcement…”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 05:07-05:21
“Their goal of privatization is to dismantle the Social Security Administration from within.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 07:00-07:07
“Trump and [his administration] must specifically disagree with the bureaucracy. Their goal is to privatize [Social Security].”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 07:46-07:48
“The last time Congress has enhanced [Social Security] was 1971.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 09:09-09:17
“We pay for [the Social Security enhancement] by lifting the cap on people making over $400,000.”
Representative John Larson Discusses Trump's Tariffs and Social Security Reforms on Washington Journal | Uploaded April 3, 2025 | 11:04-12:37