Republicans consider tax increases to save Social Security

A looming crisis in the U.S. Social Security system is prompting some Republicans to reconsider their long-standing opposition to tax increases. With the program facing potential benefit cuts of 22 percent for millions of retirees within six years, lawmakers are exploring alternative funding methods.

Senator Bernie Moreno (R-OH) has joined Senator Elizabeth Warren (D-MA) in proposing an increase to the payroll tax cap, which would require higher earners to contribute more to the program. This bipartisan approach is gaining traction within the GOP. Tom Cole, the influential Chairman of the House Appropriations Committee, expressed openness to reviewing tax rates or increasing the amount of taxable income to prevent the system's collapse.