New Plan Proposed To Save Social Security [View all]
Source: Newsweek
Published Jul 09, 2025 at 10:36 AM EDT
A bipartisan pair of senators have floated a bold new solution to the insolvency crisis facing Social Security, which they say could save the program within a decade.
In a recent op-ed for The Washington Post, Republican Senator Bill Cassidy and Democratic Senator Tim Kaine announced a proposal to set up an alternative funding model for the safety net program, which would supplement the program's Trust Fund with a new diversified pool of investments.
Why It Matters
The potential depletion of the Social Security Trust Fund has long been an issue of concern on Capitol Hill. A recent report from Social Security Administration warned that the program "continue[s] to face significant financing issues," and estimated that the Old-Age and Survivors Insurance fund would only be able to cover "100 percent of total scheduled benefits until 2033."
Insolvency would not mean that the program stops altogether, though future payments would become entirely reliant on what is collected in payroll taxes each year. This could fail to cover the entirety of scheduled benefits and possibly could result in cuts or increased taxes being needed for the program.
Read more: https://www.newsweek.com/new-plan-proposed-save-social-security-2096601
Link to WaPo SUBMISSION - Our bipartisan plan could rescue Social Security
Newsweek's link to the WaPo article (archive version) - https://archive.ph/L2wTK#selection-287.0-287.48
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