Story perspectives

PROMISE Act Seeks 50-Year Social Security Fix, Needs Supermajority

7/15/2026

Summary

Story summary

The PROMISE Act would create an advisory board to draft a 50-year Social Security solvency plan without changing taxes or benefits, addressing 2032 shortfall that could cause a 22 % benefit cut.
The bill requires a three-fifths Senate vote and a majority House vote before an up-or-down vote on board’s recommendations.
Senators Elizabeth Warren and Bernie Moreno urge raising the payroll-tax cap, prompting a conservative rebuttal from Americans for Tax Reform.

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Story summary

The PROMISE Act would create an advisory board to draft a 50-year Social Security solvency plan without changing taxes or benefits, addressing 2032 shortfall that could cause a 22 % benefit cut.
The bill requires a three-fifths Senate vote and a majority House vote before an up-or-down vote on board’s recommendations.
Senators Elizabeth Warren and Bernie Moreno urge raising the payroll-tax cap, prompting a conservative rebuttal from Americans for Tax Reform.