It’s clear—Social Security needs to be fixed. From insolvency issues to low benefits, seniors are struggling. While we know that time is running out, we also know that the program is more important than ever.
The TRUST Act is one proposed solution. This act, named the “Time to Rescue United States’ Trusts” Act of 2021, could put Social Security on a sustainable path by making some much-needed changes.
Exploring the TRUST Act
The TRUST Act would do a few different things. First, it would establish rescue committees for both Social Security and Medicare. These committees would be made up of 12 members appointed by different members of Congressional leadership.
These committees would be tasked with developing long-term solutions for the programs. They would consider things like changing the payroll tax, altering benefits, or increasing the retirement age.
The committees would also look at ways to make the programs more efficient. They would explore things like fraud prevention and administrative costs.
The goal of this act is to make sure that Social Security and Medicare are there for future generations and that bipartisan solutions are reached.
If nothing is done, Social Security is projected to become insolvent in the next 15 years. This would mean that benefits would have to be cut by nearly 25 percent. For many seniors, this would be a devastating blow.
The TRUST Act is just one possible solution to this problem.
The Seniors Center
Do you think the TRUST Act is a good idea? Let us know in the comments!
The Seniors Center is a nonpartisan, nonprofit organization dedicated to providing information and resources on the issues that matter most to seniors. We’re calling on Congress to take action on the future of Social Security—and we need your help. Sign our petition today to protect and strengthen this vital program.