2026 Senate Races Will Shape Social Security Fix as 69 Million Face 23% Benefit Cut by 2032
Updated
Updated · ms.now · Oct 30
2026 Senate Races Will Shape Social Security Fix as 69 Million Face 23% Benefit Cut by 2032
3 articles · Updated · ms.now · Oct 30
Summary
Thirty-five Senate seats are up in 2026, and the winners will likely confront Social Security's projected 2032 shortfall, when benefits would be cut by about 23% without congressional action.
Several candidates in both parties are already staking out positions, with some Republicans backing higher payroll taxes on top earners rather than the party's more typical stance.
Roger Marshall of Kansas said he would scrap the $184,500 payroll tax cap entirely, while Maine Republican Susan Collins also supports raising the cap; estimates say eliminating it could raise $1.5 trillion to $3.5 trillion over a decade.
Other options, including raising the retirement age for younger Americans, remain politically fraught after a 2023 bipartisan Senate effort stalled and polling showed weak support.
The fight recalls the 1983 bipartisan rescue that paired tax increases with a higher retirement age, but this time lawmakers face added pressure from wage inequality, AI-driven labor shifts and an aging workforce.