WASHINGTON – U.S. Senators Mike Braun (R-IN), Bill Cassidy, M.D. (R-LA), and Joe Manchin (D-WV) have introduced the Save Our Seniors Act, which would help protect Social Security’s long-term solvency by requiring the nonpartisan Congressional Budget Office (CBO) to include an honest projection of its financial health in its annual ten-year economic outlook.
“Every American must know the facts about our nation’s dire financial situation. Social Security trust fund is on the way to going bust, and if we’re going to protect Social Security for seniors who rely on it, we can’t bury our heads in the sand,” said Senator Mike Braun,
“In eight years, the Social Security trust fund will be broke,” said Senator Bill Cassidy. The American people deserve to know this. The Save Our Seniors Act highlights something every Social Security recipient has the right to know.”
“I am committed to protecting our seniors by keeping our promises, and our bipartisan Save Our Seniors Act is proof of that,” said Senator Joe Manchin. Transparency is vital in the future of Social Security, and our legislation prioritizes the program’s long-term solvency while highlighting critical information on its fiscal stability. I’m proud to introduce this commonsense bill with Senators Cassidy and Braun, and I will continue working to get it across the finish line.”
The Save Our Seniors Act would ensure that a simple and easy-to-understand graph depicting the actual outlook for the Old Age, Survivors, and Disability Insurance (OASDI) Trust Fund is included in the CBO’s ten-year economic outlook. Similar graphs exist in other Social Security-related reports, like the Trustees Reports, but not in a document as widely viewed as the CBO’s outlook, which members of Congress and economists use to get a detailed look at the health of our nation’s economy and the federal budget.
Bill text here.
