By John I. Adams, Chairman
With 2026 midterm elections on the horizon, candidates from both parties will participate in town hall meetings across the country to share their policy proposals with voters. It’s critical that seniors attend these meetings and make Social Security part of the conversation.
We already know the program is in dire straits. The latest Social Security Trustees Report projects that the retirement and survivors trust fund will only be able to pay full scheduled benefits through 2032. Without congressional action, incoming revenue would cover just 78 percent of scheduled benefits after the fund’s reserves are depleted.
The Social Security Administration has analyzed a range of policy options for addressing the program’s finances, including changes to payroll taxes, benefits, the retirement age, and the benefit formula. With so many approaches on the table, voters should use town hall meetings to ask candidates exactly where they stand.
1. What is your plan to prevent Social Security benefit cuts?
Ask for specifics. Does their plan raise additional revenue, change benefits, raise the retirement age, or combine several approaches? Most importantly, how would their proposal affect current and future retirees?
2. Would you support eliminating or raising the cap on earnings subject to Social Security taxes?
Workers currently stop paying Social Security payroll taxes after their earnings reach the annual taxable maximum ($184,500 in 2026). Ask whether higher earners should contribute Social Security taxes on more of their income. Get candidates to go on the record regarding whether they will act to stop the wealthy paying a lower share of their income into the program than ordinary citizens.
3. Would you support changing how Social Security’s annual COLA is calculated?
The current COLA uses the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W). However, TSCL advocates calculating the COLA with the Consumer Price Index for the Elderly (CPI-E), which better reflects a senior’s budget. Ask whether candidates will support legislation to change the COLA calculation to the CPI-E.
4. Would you support raising the Social Security retirement age?
Increasing the retirement age is one proposal for reducing Social Security’s funding gap, but it can also amount to a benefit reduction for future retirees. Ask whether they support such a change and, if so, which generations would be affected.
5. Would you oppose reducing benefits to improve Social Security’s finances?
Proposals to address solvency can include changes to benefit formulas, COLAs, or benefits for higher earners. Ask candidates to explain which, if any, benefit reductions they would support or oppose, plus who would be affected.
Social Security reform involves difficult choices, but voters should not have to guess where their elected officials stand. A town hall provides an opportunity to move beyond promises to “protect Social Security” and ask lawmakers exactly how they plan to do it.
