Senate races could determine the future of Social Security as trust fund depletion nears
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Senators elected in November will face a looming deadline as Social Security's retirement trust fund is projected to be depleted in the fourth quarter of 2032, which could trigger a 22% cut in benefits without congressional action. A survey by the Peter G. Peterson Foundation indicates that 81% of voters in competitive Senate races prefer candidates with a plan to avoid automatic cuts over those promising not to touch the program. While 35 Senate seats are up for election, many candidates' campaigns currently lack specific plans for the program's future.
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