Bipartisan Senators Push PROMISE Act to Safeguard Social Security

(PROMISE) Act. The bill would task the independent Social Security Advisory Board with drafting a plan to keep the Social Security Trust Funds solvent for at least the next 50 years. The proposal does not itself raise taxes or cut benefits; instead, it creates a bipartisan process that would force Congress to consider the board’s recommendations and vote on any changes requiring a 60-vote supermajority.

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The Social Security program, which provides benefits to more than 70 million Americans, faces a projected shortfall. The most recent report from the Social Security Board of Trustees indicates the system will be able to pay only 78 percent of scheduled benefits by 2032. Demographic trends—large numbers of baby boomers retiring, low birth rates, and modest immigration—have driven the gap between payroll tax revenues and benefit outlays. Earlier bipartisan attempts, such as the 2010 Simpson-Bowles commission, produced proposals for trillions of dollars in tax hikes and benefit reductions but never resulted in legislation.

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• Benefit Coverage: Over 70 million current recipients.

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• Projected Funding Gap: 78 percent of benefits payable in 2032 (Social Security Board of Trustees).

The Independent

• Public Support: A 2025 Bipartisan Policy Center survey found 93 percent of Americans view Social Security as valuable, and 83 percent say strengthening the program should be a top priority. AARP cites polling that 85 percent of Americans support maintaining or increasing benefits.

The Independent

Ben Harris of the Brookings Institution warned that “the bond market could force senators to come to the table,” highlighting fiscal pressures from rising borrowing costs. The White House declined to comment on the legislation, while President Donald Trump publicly vowed to oppose any cuts to Social Security.

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• AARP: The seniors’ advocacy group urged lawmakers to reject the PROMISE Act, arguing it could lead to benefit reductions.

The Independent

• Senator Bernie Sanders (I-VT): Pressed Democrats to oppose cuts and suggested repealing the payroll-tax cap for high earners as an alternative financing method.

The Independent

• “This is the first time that Social Security solvency has gotten serious legislative attention on a bipartisan basis in several decades,” — Shai Akabas, the vice president of economic policy at the Bipartisan Policy Center

The Independent

• “The bond market could force senators to come to the table,” — Ben Harris

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• “Groups on the left and right will demagogue it, and it’s an uphill battle,” — Marc Goldwein, senior vice president for the nonpartisan Committee for a Responsible Federal Budget

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The sponsors are targeting the “lame-duck” window after the November midterm elections but before the new Congress convenes in January to advance the bill. The Senate Finance Committee has already held its first hearing on the PROMISE Act; subsequent steps include referral to the full Senate and the House Ways and Means Committee, followed by potential floor discharge if committee action stalls. Success will depend on securing the 60-vote threshold required for passage.

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