Photo credit: thehill.com
Confirmation Hearing for Fiserv CEO as Social Security Commissioner
Frank Bisignano, the CEO of Fiserv and chosen by President Trump to be the next Social Security commissioner, faced the Senate Finance Committee in a confirmation hearing on Tuesday.
In advance of the hearing, Democratic Senators Elizabeth Warren from Massachusetts and Ron Wyden from Oregon reached out to Bisignano via a letter, inquiring about his stance on the privatization of the Social Security Administration. This potential shift is a contentious issue, strongly opposed by many in the Democratic party.
Concerns about the future of Social Security have been exacerbated by comments from Trump and his advisor, billionaire Elon Musk, both of whom have raised alarm about alleged fraud within the agency. Such statements have intensified fears regarding potential cuts to the program.
During his campaign, Trump made bold promises to reduce Social Security taxes, but experts have expressed serious concerns about the implications of abolishing income taxes on Social Security benefits and how such action would affect the sustainability of the program’s finances.
The confirmation hearing commenced at 10 a.m. and can be viewed in the video replay above.
Source
thehill.com