US Senators propose bipartisan plan to prevent Social Security cuts

Senators Dick Durbin (D-Ill.) and Bill Cassidy (R-La.) are proposing a bipartisan measure to address a projected 22% cut in Social Security benefits expected to begin in six years.

Rather than dictating a specific outcome, the proposed plan establishes a formal process for Congress to act. It tasks the bipartisan Social Security Advisory Board with collecting public input and drafting legislation intended to keep the program’s retirement trust fund solvent for at least 50 years.

Under the proposal, the resulting draft would be introduced by the majority leaders of the Senate and House, or by any sponsoring member. The legislation would then be referred to the Senate Finance Committee and the House Ways and Means Committee for debate and potential amendment.