A new Social Security plan is brewing in Congress—could it mean bigger benefits for you?
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If you rely on Social Security—or plan to in the near future—there’s a new development in Washington that could have a big impact on your monthly check, your ability to get help, and the future of the program itself.
Pressure continues to mount over whether those payments will be protected for the long haul.
Many are watching closely as the future of a vital retirement pillar enters uncertain territory.
Social Security has been a bedrock of American retirement for nearly 90 years, providing essential income to over 60 million people. But the system is under strain.
The Social Security trust fund is projected to run dry by 2033. If that happens, benefits could be slashed by 23%—a cut that would hit retirees, people with disabilities, and survivors hard.
On top of that, many have noticed it’s getting harder to get help from Social Security. Local offices are closing, phone lines are jammed, and websites sometimes crash.
In places like New York’s Southern Tier, more than 200,000 seniors depend on Social Security, but staff cuts have left some offices with a quarter fewer workers than just a few years ago.
Enter Senate Minority Leader Chuck Schumer and his new proposal: The Keep Billionaires out of Social Security Act. The name might sound like a mouthful, but the goal is simple—protect and improve Social Security for everyday Americans.
Here’s what the bill aims to do:
Read also: Are Social Security increases really keeping up with your expenses?
This isn’t the only Social Security news this year. Here’s a quick rundown of other updates that could affect your wallet:
Read also: Boost your Social Security income in retirement with these three smart strategies
Not everyone is convinced the new bill will sail through Congress. Kevin Thompson, a financial expert, says, “Increasing staffing would almost certainly help cut down wait times… but Washington is essentially gridlocked right now.”
Others point out that, with the current political climate, big changes to Social Security are a tough sell.
Still, the conversation is heating up. Some see this as a political move—propose a popular idea, watch the other side vote it down, and use it as campaign ammo.
But for those of us who depend on Social Security, the stakes are real.
Read next: After public pushback, Social Security revises its latest plan
Have you noticed changes in the Social Security service? Are you worried about the future of your benefits? Do you have tips for navigating the system?
Pressure continues to mount over whether those payments will be protected for the long haul.
Many are watching closely as the future of a vital retirement pillar enters uncertain territory.
Social Security has been a bedrock of American retirement for nearly 90 years, providing essential income to over 60 million people. But the system is under strain.
The Social Security trust fund is projected to run dry by 2033. If that happens, benefits could be slashed by 23%—a cut that would hit retirees, people with disabilities, and survivors hard.
On top of that, many have noticed it’s getting harder to get help from Social Security. Local offices are closing, phone lines are jammed, and websites sometimes crash.
In places like New York’s Southern Tier, more than 200,000 seniors depend on Social Security, but staff cuts have left some offices with a quarter fewer workers than just a few years ago.
There is a new plan to enhance customer service and protect retiree benefits. Image source: Getty Images / Unsplash
Enter Senate Minority Leader Chuck Schumer and his new proposal: The Keep Billionaires out of Social Security Act. The name might sound like a mouthful, but the goal is simple—protect and improve Social Security for everyday Americans.
Here’s what the bill aims to do:
- Keep Local Offices Open: No more shuttering the places where you can get face-to-face help.
- Hire More Staff: More hands on deck means shorter wait times and faster claims processing.
- Modernize Technology: Upgrades to websites and phone systems so you can get answers without pulling your hair out.
- Strengthen Data Security: Because your personal information should be as safe as your money.
- Ensure Access for All: No one should be left behind, whether you live in a big city or a rural town.
Read also: Are Social Security increases really keeping up with your expenses?
This isn’t the only Social Security news this year. Here’s a quick rundown of other updates that could affect your wallet:
- Cost-of-Living Adjustment (COLA): In 2025, all Social Security recipients will see a 2.5% increase in their monthly checks. That’s a little extra to help keep up with rising prices.
- Social Security Fairness Act: Signed into law in early 2025, this act eliminated rules that reduced benefits for public servants (like teachers and police officers) who also receive a pension from non-covered work. About 3.1 million people are getting bigger checks, retroactive to January 2024.
- Ongoing Funding Debate: The trust fund is still under pressure. If Congress doesn’t act—by raising taxes on high earners or finding new funding—automatic benefit cuts could kick in once reserves are depleted.
Read also: Boost your Social Security income in retirement with these three smart strategies
Not everyone is convinced the new bill will sail through Congress. Kevin Thompson, a financial expert, says, “Increasing staffing would almost certainly help cut down wait times… but Washington is essentially gridlocked right now.”
Others point out that, with the current political climate, big changes to Social Security are a tough sell.
Still, the conversation is heating up. Some see this as a political move—propose a popular idea, watch the other side vote it down, and use it as campaign ammo.
But for those of us who depend on Social Security, the stakes are real.
Read next: After public pushback, Social Security revises its latest plan
