A bipartisan group of senators introduced a bill on Tuesday designed to shore up Social Security’s finances in the coming decades and prevent future benefit cuts for the 70 million Americans who rely on the program.
The bill comes after last month’s annual Social Security trustees’ report projected that the program’s retirement trust fund could become insolvent by 2032, earlier than initially forecast. If that occurs, it would trigger a 22% across-the-board benefit cut
Source: Senators introduce bipartisan plan to tackle Social Security insolvency – CBS News