Lawmakers float debt-funded fund and payroll-tax tweaks to shore up Social Security

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Source: AP News
Lawmakers float debt-funded fund and payroll-tax tweaks to shore up Social Security
Photo: AP News
TL;DR

Facing a long-term Social Security shortfall, lawmakers are weighing bold options: Sen. Cassidy and Sen. Kaine propose a $1.5 trillion 'Save Our Seniors Fund' funded by Treasury borrowing and invested over 75 years to cover roughly two-thirds of the projected $26.6 trillion gap, with the remainder likely needing tax hikes or benefit cuts; others push payroll-tax reforms—lifting the cap or applying it more broadly—to raise revenue and strengthen benefits; critics warn the fund is debt-funded and risky, AARP opposes fast-tracking changes, and the political viability of any plan will hinge on further negotiations and specifics.

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