Social Security plans may sway voters in battleground Senate races: Survey

Key Points:

• Senators elected in November will be in office when Social Security's trust fund is projected to be depleted in late 2032, potentially triggering a 22% cut to retirement benefits without Congressional action.
• A Peter G. Peterson Foundation survey of 2,500 registered voters in competitive Senate states found 81% prefer candidates with plans to avoid automatic Social Security cuts over those who simply promise not to touch the program.
• Awareness of Social Security's funding shortfall is growing, with support for reforms rising to 91% among surveyed voters after being informed of the projected benefit cuts, including strong bipartisan and age-diverse backing.
• The most popular reform proposals include raising the payroll tax cap by 1% on income above $184,500 (72% support), capping benefits for retired couples at $100,000 annually (66%), and reducing benefits for the top 20% of earners (65%).
• The Peterson Foundation advocates for early legislative action or a bipartisan commission to address solvency, aiming to avoid last-minute, less favorable options by 2032, while groups like AARP emphasize transparent and participatory reform processes.