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Cassidy and Durbin Push Plan to Block 22% Cut

8/30/2026

33 2 Full Breakdown

Summary

Story summary

Senators Bill Cassidy (R-LA) and Dick Durbin (D-IL) lead a plan to stop a 22% Social Security cut.
Plan proposes a bipartisan Social Security Advisory Board to draft a 50-year solvency plan.
Trustees warn the fund will run out in Q4 2032, covering only 78% of benefits with tax revenue.
Senator Bernie Sanders’ bill would raise payroll taxes above $250,000 and add about $2,400 in annual benefits.

History

Historical Context

Facing a projected 2032 trust-fund depletion, today’s bipartisan bill by Senators Bill Cassidy, Dick Durbin and Bernie Sanders echoes the 1983 Social Security Amendments that President Ronald Reagan signed after the National Commission on Social Security Reform—chaired by Alan Greenspan—recommended a 0.4 % payroll-tax increase, adding $5 billion annually and extending the surplus to $100 billion by 1995.

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Story summary

Senators Bill Cassidy (R-LA) and Dick Durbin (D-IL) lead a plan to stop a 22% Social Security cut.
Plan proposes a bipartisan Social Security Advisory Board to draft a 50-year solvency plan.
Trustees warn the fund will run out in Q4 2032, covering only 78% of benefits with tax revenue.
Senator Bernie Sanders’ bill would raise payroll taxes above $250,000 and add about $2,400 in annual benefits.

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