Key Facts

• Murray, a Democratic senator from Washington, said Republicans want to cut benefits and called Social Security a central issue in the midterm elections.
• Murray has argued that wealthy Americans should contribute more to Social Security rather than placing the burden on workers and retirees.
• The 2026 trustees report projects that the Old-Age and Survivors Insurance trust fund will have reserves to pay full scheduled benefits only until 2032.
• If lawmakers take no action after the trust fund’s reserves are depleted, projected revenue would cover about 78 percent of scheduled benefits, an automatic reduction of about 22 percent.
• Possible policy changes include raising the payroll tax rate, taxing more wages, reducing scheduled benefits, or combining revenue and benefit changes.
• Republicans have generally said publicly that they want to protect Social Security benefits, while Democrats have cited Republican leaders’ calls to reform mandatory spending programs.
• The article says the trust fund’s projected shortfall requires congressional action regardless of which party controls Congress.