Social Security trust fund could run out sooner than expected

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(NewsNation) — A recent analysis found that Social Security‘s main trust fund could be depleted a year earlier than expected.

In its Budget and Economic Outlook: 2026 to 2036 report, the Congressional Budget Office said the Old Age and Survivors Insurance Trust Fund, one of two funds the Social Security Administration taps to disburse benefits, will be exhausted by 2032.

Just last year, it was estimated the trust fund would run dry by 2033.

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Retired Americans would still get their Social Security money in the event that the trust fund reserves run out, but they would not get all of it.

The CBO also projected that Social Security trust fund income will be lower because of a reduction in individual income taxes and payroll taxes.

In July of 2025, Louisiana Republican Sen. Bill Cassidy and Virginia Democratic Sen. Tim Kaine introduced a bipartisan plan that would let Americans receive all of their Social Security benefits and prevent it from becoming insolvent.

“I’m pushing to be proactive,” Cassidy told NewsNation’s Elizabeth Vargas. “That’s why we’ve got to fix it now. Under our plan, everybody gets all the benefits they’ve been promised. Period. End of story.”

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