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16 July 2026
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Social Security may pay only 78% of benefits by 2032 — senators want a vote

The range of co-sponsors on the PROMISE Act itself reflects this ideological breadth: alongside Durbin and Cassidy, the bill is backed by Sen. John Cornyn, R-Texas; Sen. Tim Kaine, D-Virginia; Sen. Angus King, I-Maine; and Sen. Thom Tillis, R-North Carolina. The involvement of a Republican from Texas, a Democrat from Virginia, and an independent from Maine signals that the procedural approach — rather than any single policy solution — is the common ground its authors are betting on.

The PROMISE Act now heads into a legislative environment where the 60-vote Senate threshold it would itself require for a final Social Security bill will be the first real test of whether bipartisan support extends beyond the bill’s six co-sponsors. Cassidy and Durbin’s self-imposed deadline — the end of their current terms — gives the effort a concrete political window. The next scheduled milestone is the Social Security Advisory Board’s public input process, should the bill advance, and the next annual trustees report, which will either confirm or revise the Q4 2032 depletion projection.

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