Bipartisan Senate bill to address Social Security solvency

A bipartisan group of senators introduced legislation this week designed to force Congress to address Social Security’s looming insolvency, aiming to avert an automatic 22 percent cut to benefits projected for 2032. The bill, known as the Protecting Retirement Opportunities and Maintaining Income Security for Everyone (PROMISE) Act, was introduced on Tuesday, July 14, 2026.

The legislation would not itself raise taxes, cut benefits, or alter eligibility. Instead, it establishes a procedural mechanism to compel congressional action. The bill directs the independent, bipartisan Social Security Advisory Board to draft a base proposal guaranteeing the program’s solvency for at least 50 years. This proposal would then be fast-tracked through Congress, with committees given the opportunity to hold hearings and offer amendments. If committees fail to act, the legislation would automatically advance to the floor for a vote after up to 100 hours of debate, requiring a three-fifths majority in the Senate and a simple majority in the House for passage.

The bill’s sponsors include Senate Democratic Whip Dick Durbin of Illinois, and Senators Bill Cassidy, a Republican from Louisiana; Tim...