Every person receiving Social Security benefits would get a formal "benefit guarantee certificate" from the Treasury Department — a legally binding promise that their monthly payment will continue at its current level and be adjusted at least once a year to keep pace with the actual cost of living. The certificate would represent a legal obligation of the federal government to pay, giving beneficiaries an enforceable right if Congress ever tried to cut benefits. For the roughly 67 million Americans who depend on Social Security, it's meant as a firewall against future benefit reductions.
Congressional Summary
This bill requires the Department of the Treasury to issue certificates to Social Security beneficiaries that guarantee them the full monthly benefit amount to which they are entitled and at least an annual cost-of-living increase to their benefits. It also provides additional mandatory funding for those benefits.Currently, Social Security beneficiaries are entitled to their benefits, but benefits are primarily funded through a payroll tax (including assets derived from the tax held in reserve). Actuarial projections reported by the Social Security Board of Trustees indicate that in 2035 there will be insufficient tax revenue and reserved assets to cover the full amount of benefit payments.
Details
- Congress
- 119th
- Chamber
- Status
- summarized
- Action
- Action Date
- Date Added
- 2026-04-02
- Source
- Congress.gov →
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