Bipartisan Senate PROMISE Act introduced to protect Social Security
According to CNBC, Senators Dick Durbin, Bill Cassidy, John Cornyn, Tim Kaine, Angus King and Thom Tillis introduced the bipartisan PROMISE Act in the Senate to address Social Security reform. CBS News reported that the bill would establish a seven-member advisory board tasked with drafting legislation to keep the trust funds solvent for at least fifty years. AP News added that the PROMISE Act would require Congress to vote on a long-term solvency plan covering a minimum of 50 years.
Fox Business noted that the legislation aims to avert a projected 22 % cut in benefits if the trust fund were to be exhausted. The sponsoring senators said the proposal is intended to safeguard the program’s future and prevent a financial crisis.
Actors
Dick Durbin
Bill Cassidy
John Cornyn
Tim Kaine
Angus King
Thom Tillis
Locations
No records
