Senate Candidates Push Social Security Tax Hike Above $184,500 to Avert 22% Benefit Cut
Updated
Updated · NBC News · Oct 8
Senate Candidates Push Social Security Tax Hike Above $184,500 to Avert 22% Benefit Cut
3 articles · Updated · NBC News · Oct 8
Summary
Senate candidates in multiple 2026 races are campaigning to raise Social Security taxes on higher earners, arguing the change is needed before automatic benefit cuts hit in 2032.
The current payroll tax applies only to wages up to $184,500, and the latest trustees report says the program is fully funded only until the fourth quarter of 2032.
After that point, benefits would be cut by 22% unless Congress acts, putting unusual weight on this fall’s Senate class because its six-year terms run through January 2033.
Democrats including Abdul El-Sayed in Michigan, Josh Turek in Iowa and James Talarico in Texas back lifting the cap, though they differ on whether to scrap it entirely or restart taxes above $400,000.