Social Security: 2026 bill could save benefits from insolvency—and impact COLA increases. How your checks could change
Congress has reintroduced the Social Security 2100 Act , a bill that would increase benefits by 2% for some 71 million Americans—including 54 million retired workers and 9 million of their survivors and dependents . The bill would temporarily change how Social Security’s cost-of-living adjustments (COLAs) are calculated from 2027 to 2036 in order to better match the real financial pressures…
The Social Security 2100 Act, a bill aimed at preventing Social Security's insolvency and potentially affecting cost-of-living adjustments (COLAs), has been reintroduced in Congress. The bill would raise benefits for 71 million Americans, including 54 million retired workers and 9 million of their survivors and dependents. To address rising living expenses, particularly healthcare and housing costs, the act would change how COLAs are calculated from 2027 to 2036, aligning them with the consumer price index for the elderly (CPI-E) benefit, set at 125% of the federal poverty line.
Social Security's trust fund is projected to run out of money as early as Q4 2032, with a few months' difference in other projections. The bill also seeks to extend the payroll tax and expand it to income over $400,000, potentially securing the trust fund for an additional 32 years. However, the Social Security 2100 Act's prospects for passage are uncertain, with no significant Republican support and a low likelihood of approval as a negotiating tool.
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