Kennedy Pushes Social Security 2100 Act as 2032 Trust Fund Depletion Threatens 22% Benefit Cut
Updated
Updated · Buffalo Toronto Public Media · Aug 31
Kennedy Pushes Social Security 2100 Act as 2032 Trust Fund Depletion Threatens 22% Benefit Cut
2 articles · Updated · Buffalo Toronto Public Media · Aug 31
Summary
Late 2032 is when Social Security’s retirement and survivor trust fund is projected to run out of reserves, leaving incoming revenue to cover about 78% of scheduled benefits.
Tim Kennedy said that shortfall makes passage of the Social Security 2100 Act urgent; the bill would expand benefits, update cost-of-living protections and scrap the $184,500 wage cap so higher earners pay more.
The measure also bars political appointees and special government employees from accessing Social Security beneficiary data and lets people seek damages for unauthorized disclosure, after controversy over Elon Musk’s access to federal data.
In Lackawanna, 3,686 of 8,384 households — about 44% — receive Social Security income, underscoring the local stakes Kennedy and city officials highlighted.
The bill remains in committee with no House vote scheduled, and Kennedy said its chances may hinge on Democrats retaking the chamber in November.