AARP Opposes PROMISE Act Fast-Track for Social Security Changes as 2032 Trust Fund Depletion Looms
Updated
Updated · CNBC · Jul 23
AARP Opposes PROMISE Act Fast-Track for Social Security Changes as 2032 Trust Fund Depletion Looms
3 articles · Updated · CNBC · Jul 23
Summary
AARP told Sens. Dick Durbin and Bill Cassidy it strongly objects to the PROMISE Act, saying Social Security changes should move through regular order with committee oversight and open debate.
The group said the bill would let a four-member advisory board draft a 50-year solvency plan in just over a month, then push Congress toward votes after 100 hours of consideration, potentially in a lame-duck session.
Durbin's office disputed that characterization, saying the measure would not short-circuit normal lawmaking and instead would force more scrutiny, debate and discussion than most bills receive.
The fight comes as Social Security's retirement trust fund is projected to run out in the fourth quarter of 2032, when only 78% of scheduled benefits would be payable without congressional action.
AARP also opposed two other commission-based Social Security proposals, underscoring a broader clash over whether Congress should use special procedures to break a long-running bipartisan stalemate.