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Members of Congress under FERS contribute 1.3% of their salary into the FERS retirement plan and pay 6.2% of their salary in Social Security taxes. And like federal employees, members contribute one-third of the cost of health insurance with the government covering the other two-thirds. [200]
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Many members of Congress continue to advocate for a salary raise as a simple, but effective solution. Notably, Rep. Alexandria Ocasio-Cortez called for this reform in 2021, [5] and salary raises have been a part of Rep. Ro Khanna's plan for anti-corruption congressional reform. [6]
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An estimated 155 million persons under the age 65 were covered under health insurance plans provided by their employers in 2016. The Congressional Budget Office (CBO) estimated that the health insurance premium for single coverage would be $6,400 and family coverage would be $15,500 in 2016.
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On September 12, 2016, the Consumer Financial Protection Bureau fined Bridgepoint Education, the parent company of Ashford University, $31.5 million for deceiving students about the cost of private student loans; $23.5 million was targeted for relief and refunds to consumers. [98]