Braun, Cassidy, Manchin lead legislation to protect Social Security

Monday, March 25, 2024 at 8:30 AM

News

U.S. Senators Mike Braun (R-IN), Bill Cassidy, M.D. (R-LA), and Joe Manchin (D-WV) have introduced the Save Our Seniors Act, which would help protect the long-term solvency of Social Security by requiring the nonpartisan Congressional Budget Office (CBO) to include the honest projection of its financial health in its annual ten-year economic outlook.

“Every American needs to know the facts about our nation’s dire financial situation. Social Security trust fund is on the way to going bust, and if we’re going to protect Social Security for seniors who rely on it we can’t bury our heads in the sand.” — Senator Mike Braun

“In eight years Social Security trust fund will be broke. The American people deserve to know this. The Save Our Seniors Act puts a spotlight on something that every Social Security recipient now, or in the future, has the right to know.” — Senator Bill Cassidy

“I am committed to protecting our seniors by making good on the promises we’ve made to them, and our bipartisan Save Our Seniors Act is proof of that. Transparency is vital when it comes to the future of Social Security, and our legislation prioritizes the long-term solvency of the program while also highlighting critical information on its fiscal stability. I’m proud to introduce this commonsense bill with Senators Cassidy and Braun and I will continue working to get it across the finish line.”— Senator Joe Manchin

The Save Our Seniors Act would ensure that a simple and easy-to-understand graph depicting the actual outlook for the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Fund is included in the CBO’s ten-year economic outlook. Similar graphs exist in other Social Security related reports, like the Trustees Reports, but not in a document as widely viewed as the CBO’s outlook, which is used by members of Congress and economists to get a detailed look at the health of our nation’s economy and the federal budget.

Bill text here.