What We Are Fighting For

The Social Security Trust Fund’s insolvency is looming. The Old-Age and Survivors Insurance (OASI) retirement trust fund principal reserve would be exhausted in calendar year 2032 according to CBO estimates. At that point, incoming revenue will be insufficient to meet full beneficiary commitments, and by law the program will need to operate on a cash-in-cash-out basis. The result, according to most estimates, would be an across-the-board benefit reduction of between 20 percent and 25 percent for all recipients. 

AMAC Action has been on the frontlines pressuring Congress to enact legislation to guarantee the solvency and benefits of Social Security without increases in the payroll tax. AMAC’s Social Security Guarantee model legislation is key in this effort. In addition, we support state and federal efforts to reduce or eliminate the taxing of Social Security benefits.