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Every election year seems to be “the most important one in our lifetimes” – or the “most consequential election ever.” But… this election year really IS extremely pivotal for Social Security. That’s because the next Congress will no doubt begin grappling with the challenge of strengthening Social Security’s finances before the projected depletion of the trust fund in the early 2030’s.
In fact, U.S. Senators elected this year likely still will be in office through the end of 2032, when the trust fund will be on the precipice of insolvency… absent congressional action. Unless Congress wants beneficiaries to suffer an automatic 17-22% cut in benefits – it will have to act soon. Few who remember the reforms of 1983 want to see lawmakers once again wait until the very last minute, when options are more limited and costs steeper.
With that in mind, we have launched a new voter education campaign called “Social Security on the Ballot.” Its message is simple but urgent: when Americans go to the polls this November, they’ll be choosing candidates who will shape the future of Social Security.
As our President and CEO Max Richtman puts it:
“The stakes for current and future seniors couldn’t be higher. Depending on the composition of the next Congress, Social Security could be strengthened (and expanded) – or radically cut and privatized. It all depends on which course Congress takes, and that depends on your vote.” – Max Richtman, President & CEO, NCPSSM
Many, but not all, Republicans have staked out the position that Social Security should be cut in some way in order to restore solvency. They do not call their proposals “benefit cuts,” because that would be wildly unpopular. Instead, they speak of raising the retirement age, means testing, and lowering Social Security cost-of-living adjustments (or COLAs) – which are all benefit cuts!
Just last week, House Speaker Mike Johnson said that “entitlements” like Social Security are “a problem” – promising that Republicans have a “plan” to “fix it” next year. Though he didn’t specify what the GOP “plan” is, his remarks sent shivers up the spines of Social Security supporters. And rightly so.
Prominent Republicans also have raised the specter of privatizing Social Security – aka gambling workers’ payroll contributions on Wall Street. Last year, U.S. Treasury Secretary Scott Bessent admitted that Trump savings accounts for children actually were a “backdoor way of privatizing Social Security.”
In May, Senator Ted Cruz concurred that the Trump accounts were a Trojan Horse for privatization, calling it a “dirty little secret.” Not so secret anymore.
Senator Ted Cruz (left) & Treasury Secretary Scott Bessent (right) admit that the Trump administration is hoping to privatize Social Security (Wikimedia Commons/Brittanica)
This is why it’s no exaggeration when we say the stakes of the 2026 elections are enormously high. While Republican leaders signal their intention to cut benefits without offering any legislation, Democrats have actually introduced several bills to strengthen Social Security – largely by demanding that the wealthy begin contributing their fair share. Legislation introduced by Senators Sanders, Warren, and Whitehouse (along with Reps. Boyle, Hoyle, and Larson in the U.S. House) would extend the life of the trust fund for decades — without cutting benefits.
No doubt, voters have a lot to navigate heading into the 2026 midterms. Issues like affordability, health care, and Trump’s military misadventures are competing for attention. “We hope that our new public education campaign will remind voters that their earned benefits are on the line this year,” says CEO Max Ricthman. “They worked hard and contributed to Social Security with every paycheck and have very right to expect their benefits in full. We must not allow lawmakers to break that promise.”
Our political action committee has already begun endorsing Senate candidates in key battleground races who champion Social Security, such as Jon Ossoff (D-GA), Roy Cooper (D-NC), and Chris Pappas (D-NH). On the House side, we are supporting (among others) Christina Bohannon (IA-01), Rebecca Cooke (WI-03), and Paige Cognetti (PA-08).
While their opponents are promoting ideas that would put Social Security at risk, these candidates have distinguished themselves as advocates for today’s seniors and future beneficiaries.
This is not a one-off messaging opportunity or a single ad buy. As the election season unfolds, we will continue rolling out new content, resources, and organizing opportunities so that voters can stay informed and engaged right up to Election Day.
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Watch our documentary about the history of Social Security, including the 1983 reforms here.
Read our Social Security is on the Ballot press release here.
Read about the campaign in 401K Specialist here.