News · Press Release

On Social Security’s 91st Anniversary, David Valadao Is Still Plotting To Privatize It

After promising to protect Social Security, David Valadao voted for a “backdoor” scheme to privatize this vital program
For nearly a century, Social Security has been the ticket to financial security for millions of Californians who have worked hard to retire with grace and dignity.

But Valadao and D.C. Republicans are hellbent on destroying it at the behest of billionaires. 

New reporting reveals that Valadao was caught falling in line behind far-right schemes to privatize Social Security. He stands with the extreme ”60 Plus Association” that has been advocating for privatization for decades — a move that would effectively gut Californians’ retirement security to benefit Valadao’s Wall Street backers.

A recap of Valadao’s and the Administration’s actions to date:

  • Valadao voted for the Big, Ugly Law, which Treasury Secretary Scott Bessent admitted was a “backdoor for privatizing Social Security.”
  • Valadao fully submitted to Elon Musk’s plan to gut the agency, which cut phone lines, fired staff, and laid off workers through his cruel DOGE effort. To date, Social Security offices have lost an estimated 20% of staff.
  • The Administration rolled out a proposal to cut disability benefits to recipients.
  • According to the Chief Actuary, the Social Security trust fund is predicted to run out of money faster than previous estimates because of the The Big, Ugly Law.

Social Security By The Numbers:

  • 6.8 million Californians receive Social Security.
  • 1 million Californians receive Supplemental Security Income (disability benefits).
  • 63% of retirees rely on Social Security for at least half of their income.
  • Social Security lifts more than 1.4 million California seniors out of poverty.
  • 79% say Social Security earned benefits shouldn’t be reduced in any way.

DCCC Spokesperson Anna Elsasser:
“Social Security has been a pillar of America’s middle class and represents one of the most singularly successful programs in our nation’s history. It is based on a basic American value: If you work hard, you should be able to earn enough to retire with dignity and peace of mind. David Valadao abandoned those values by backing extreme right-wing efforts to privatize Social Security, gut benefits, and give away billions to his Wall Street backers. Valadao’s attempts to privatize Social Security are just his latest broken promise to Central Valley families — and it’s why he will lose in November.”

 

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