US Senators Dick Durbin and Bill Cassidy have embarked on a mission to save tens of millions of Social Security beneficiaries from a projected 22% cut in their benefits, starting in just six years. This was reported by Qazaqyia.kz citing Associated Press.
It is one of the most perilous political efforts that a member of Congress can undertake, so it is telling that the push is being led by two lawmakers who have little to lose at this stage of their careers.
“We’ve been at this six years, eight years. It’s incredible how long I’ve been at it,” Cassidy said. “But Durbin came up to me and he goes, ’Bill, I’m leaving the Senate soon. We need to take a ride at it.’”
Their idea to extend Social Security’s solvency is one of a few that have been formally offered this Congress. None has gained much traction, but it is a start as more lawmakers weigh in on a problem that will likely confront the group of senators elected this fall as well as the next president. Pressure for action is sure to grow as 2032 draws closer.
The measure that Durbin, D-Ill., and Cassidy, R-La., are pushing would not dictate an outcome, but instead set up a process for Congress to take action. It calls for the bipartisan Social Security Advisory Board to collect public input and submit draft legislation to Congress that would keep the program’s retirement trust fund solvent for at least 50 years.
The resulting bill would then be introduced by the majority leaders of the Senate and House. If they do not want to go along, any member could sponsor the bill. It would then be referred to the two committees with jurisdiction over Social Security — the Senate Finance Committee and the House Ways and Means Committee.
Both committees would have the chance to debate the bill and amend it if they wish. If not, the original bill drafted by the advisory board would be placed on the Senate and House calendars for