New Bipartisan Plan Aims to Prevent Social Security Benefit Cuts Before Trust Fund Depletion

A bipartisan bill called the PROMISE Act has been introduced to address Social Security's long-term financial stability. The legislation aims to establish a process for Congress to develop and vote on a plan to prevent a projected 22% reduction in benefits when the trust fund depletes around 2032. If enacted, it seeks to ensure Social Security remains solvent for at least 50 years and prevent significant benefit cuts affecting over 70 million Americans.

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