Social Security's Lifeline: What the Latest Bill Means for Small Business Owners and Retirees Alike The Social Security trust fund faces a dire future, with projections indicating depletion by 2032.
To address this issue, Rep. John B. Larson and Sen. Richard Blumenthal have reintroduced the Social Security 2100 Act, which has garnered support from The Senior Citizens League (TSCL) and other advocates.
The bill targets the Social Security tax cap, currently set at $184,500 for 2026. Eliminating this cap would generate significant revenue, according to TSCL estimates.