Four senior senators, two Democrats and two Republicans, are calling on Congress to tackle the “hard” debate over how to extend the solvency of Social Security after the program’s trustees issued a new report this week projecting it will face a significant shortfall at the end of 2032.
“It’s clear now that Congress shouldn’t delay any longer. Several of us have been coming together to talk about how we can strengthen Social Security for current and future generations of retirees. We say to our colleagues: join us in doing what we were elected to do — legislate on hard issues and protect this lifeline program for our kids and grandkids,” Sens. Dick Durbin (D-Ill.), Bill Cassidy (R-La.), Tom Kaine (D-Va.) and Thom Tillis (R-N.C.) said in a joint statement.
The senators issued their call to action after Social Security’s trustees warned that the program will become insolvent by the end of 2032 and beneficiaries would see their monthly payments reduced by 22 percent.
The two Republican senators, Cassidy and Tillis, are both leaving the Senate after the current congressional session. Tillis announced his retirement last year after battling with President Trump over the “Big, Beautiful Bill,” while Cassidy lost a primary to two Trump-backed rivals.
Durbin, Cassidy, Kaine and Tillis said Congress has good ideas for shoring up the program but needs to find the courage to act.
“Congress has no shortage of ideas, we just need to actually debate them and vote,” they said.
They issued their statement shortly after Speaker Mike Johnson (R-La.) said on Monday that Republicans would advance a plan next year to address the ballooning cost of mandatory spending programs such as Social Security.
“The reason we are in trouble is because over 74 percent of federal spending is on autopilot, mandatory spending,” Johnson told the “Moon Griffon Show” Monday.
“That’s your entitlement programs like Medicare, Medicaid and then things like Social Security. They have to be adjusted and fixed,” he said.
“We have a plan to do that next year,” he said.
House Ways and Means Committee Chairman Jason Smith (R-Mo.) on Wednesday said Congress “needs to get their act together” to address Social Security’s looming shortfall.
“Congress needs to get their act together to address Social Security and the insolvency that’s coming, instead of poking blame at other people whenever it is our duty and our responsibility,” Smith said at a hearing with Social Security Administration (SSA) Commissioner Frank Bisignano.
