This new bill could save Social Security in America — and boost your monthly check. Is it time to kick your heels back?

The Social Security program may be facing a crisis, with the trust fund projected to run out by 2032. If no action is taken, benefits could be reduced by up to 22%. Two Democratic lawmakers have introduced a bill, the Social Security 2100 Act, which aims to address this issue. The bill would eliminate the current tax cap on Social Security taxes, which stands at $184,500 for 2026.

It would also impose a new tax on investment income for those earning over $400,000. These measures are expected to generate substantial revenue for the program, potentially delaying the depletion of the trust fund by up to 32 years. Moreover, the bill proposes to raise average benefits by 2% and increase the minimum benefit to 125% of the federal poverty line.

It would also adjust the annual cost-of-living adjustment (COLA) to better reflect the needs of older Americans. This bill has received support from The Senior Citizens League, a major advocate for seniors. However, the likelihood of the bill passing is slim, given the current political climate and the Republican control of all three branches of government.