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PROMISE Act Forces Social Security Vote | US News
Description
A bipartisan Senate group just unveiled the PROMISE Act to avert Social Security’s looming shortfall—projected to hit by 2032. The bill forces Congress to vote on a 50-year solvency plan, backed by an independent committee, ending the cycle of delay. With fewer workers and less immigration shrinking the trust fund, the fix isn’t about collapse but about cutting benefits if nothing changes. While Republicans resist tax hikes and Democrats oppose raising the retirement age, a rare bipartisan push includes proposals like lifting the income cap on Social Security taxes—currently $184,500—offering a potential path forward.
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