Story perspectives

Social Security Lifts 23.5 Million Americans from Poverty

2/26/2026

Summary

Story summary

A new report from the Center on Budget and Policy Priorities finds Social Security significantly reduces poverty in the United States, with more than 70 million Americans receiving benefits as of January 2026 and an average payment of $1,926 per month.
The Center on Budget and Policy Priorities analysis notes Social Security lifted an estimated 23.5 million people above the poverty line in 2024, including nearly 17 million seniors.
Without Social Security, 37.6 percent of seniors would live in poverty, but that figure drops to 10.3 percent with benefits.
The report also highlights that 1.1 million children were lifted above the poverty line due to these payments.

1 of 1

Story summary

A new report from the Center on Budget and Policy Priorities finds Social Security significantly reduces poverty in the United States, with more than 70 million Americans receiving benefits as of January 2026 and an average payment of $1,926 per month.
The Center on Budget and Policy Priorities analysis notes Social Security lifted an estimated 23.5 million people above the poverty line in 2024, including nearly 17 million seniors.
Without Social Security, 37.6 percent of seniors would live in poverty, but that figure drops to 10.3 percent with benefits.
The report also highlights that 1.1 million children were lifted above the poverty line due to these payments.