Swing State Voters Want Harris and Trump to Give Detailed Plans for Shoring Up Social Security
Despite decades of warnings, the depletion date for Social Security’s retirement trust fund is rapidly approaching. Unless lawmakers take action, Social Security’s trust fund will be depleted by 2033 – at which point benefits would be cut by 21 percent, automatically. These cuts would be devastating for the millions of seniors who rely on Social Security for a major share of their income.
The vast majority of voters (96%) in seven key battleground states — Arizona, Georgia, Michigan, Nevada, North Carolina, Pennsylvania and Wisconsin —say it’s important for the presidential candidates to have a plan to prevent automatic cuts to Social Security, according to new polling. So far neither Vice President Harris nor former President Trump has put forward a plan to shore up Social Security – but there are many policy options to choose from, with strong support from swing state voters:
- 60% of voters favor increasing Social Security taxes
- 63% of voters favor a combination of tax increases and benefit adjustments
- 75% of voters favor increasing taxes and reducing benefits for higher-income Americans
- 52% of voters favor having the retirement age gradually raised for those under 50
Further Reading
The Current Ratio of Workers to Social Security Beneficiaries Is at an All-Time Low and Projected to Decline Further
Social Security has been a cornerstone of economic security for more than 90 years, but the program is on unsound footing.
Social Security Reform: Lessons From the Greenspan Commission
As the conditions of the 1980s mirror that of today, a commission is a viable and helpful framework worthy of consideration.
Social Security Is in Trouble. What Does That Mean for Younger Americans?
Social Security’s looming insolvency is also a threat to the economic future of younger Americans.