How to Avoid a Social Security Cut? Lawmakers Are Floating Ideas for What to Do
The bipartisan measure would use the Social Security Advisory Board to draft legislation after public input, as lawmakers warn of a projected 22% benefit cut.
- Senator Dick Durbin, D-Ill., and Senator Bill Cassidy, R-La., introduced a bill to ensure Social Security solvency for 50 years, tasking the bipartisan Social Security Advisory Board with drafting legislation for Congress to address funding challenges.
- Millions of Social Security beneficiaries face a projected 22% cut to their payments starting in six years as the trust fund's insolvency looms with 2032 drawing closer.
- The measure directs the advisory board's draft to the Senate Finance Committee and House Ways and Means Committee for debate, with passage requiring a three-fifths vote in the 100-member Senate and a simple majority in the 435-member House.
- AARP opposes the bill, arguing the process limits amendments and sets arbitrary deadlines, while the Committee for a Responsible Federal Budget called it a "dangerous, debt-funded gamble" with significant financial risks.
- Separately, Cassidy and Senator Tim Kaine, D-Va., proposed a $1.5 trillion investment fund over 75 years, while Senator Bernie Sanders, a Vermont independent, and Representative Val Hoyle, D-Ore., advocate for lifting the payroll tax cap to generate revenue.
42 Articles
42 Articles
How to Avoid a Social Security Cut? Lawmakers Floating Ideas for What to Do
<span class="field field--name-title field--type-string field--label-hidden">How to Avoid a Social Security Cut? Lawmakers Floating Ideas for What to Do</span> <span class="field field--name-uid field--type-entity-reference field--label-hidden"><span>Associated Press</span></span> <span class="field field--name-created field--type-created field--label-hidden"><time datetime="2026-08-26T11:13:36-05:00" title="Wednesday, August 26, 2026 - 11:13" c…
Big slashes coming to Social Security payments!? – The Horn News
Social Security is running out of time, and after years of inaction in Washington big changes could be coming soon. A handful of lawmakers are rushing to do something about it before benefit checks to American seniors are slashed. The Social Security Administration’s trustees reported in June that the program’s retirement trust fund will run dry in the last quarter of 2032. Once that happens, the law requires an automatic 22 percent cut to benef…
How to avoid a Social Security cut? Lawmakers race to save retirement benefits
Democrat Dick Durbin and Republican Bill Cassidy are spending their final months as senators attempting to protect tens of millions of Social Security beneficiaries from a projected 22% cut starting in six years
Associated Press News
How to avoid a Social Security cut? Lawmakers are floating ideas for what to do
Two senators who are set to retire have embarked on a mission to save tens of millions of Social Security beneficiaries from a projected 22% cut in their benefits, starting in just six years.
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