Senate Finance Committee Ranking Member Ron Wyden, D-Ore., today issued a statement after the Social Security Board of Trustees released its annual outlook for the program:
“In a little over a decade, Social Security benefits are going to be cut by a quarter unless action is taken to support this key lifeline for workers who paid into the program out of each paycheck," Wyden said. “Social Security has never missed a full payment to date, which is welcome reassurance during a health and economic crisis like this one. However, the COVID-19 pandemic will only speed the arrival of this impending benefit cut, so Congress cannot neglect its responsibility to find solutions that will protect Social Security’s earned benefits for future generations.
