Indy Standard

U.S. Senators Mike Braun, Bill Cassidy, M.D., and Joe Manchin have teamed up to introduce the Save Our Seniors Act, aimed at safeguarding the long-term solvency of Social Security. The bill proposes that the nonpartisan Congressional Budget Office (CBO) includes a more realistic projection of the program's financial health in its annual ten-year economic outlook.

Senator Mike Braun emphasized the urgency of the situation, stating, “Every American needs to know the facts about our nation’s dire financial situation. Social Security trust fund is on the way to going bust, and if we’re going to protect Social Security for seniors who rely on it we can’t bury our heads in the sand.”

Echoing Braun's sentiment, Senator Bill Cassidy highlighted the necessity of transparency, saying, “In eight years Social Security trust fund will be broke. The American people deserve to know this. The Save Our Seniors Act puts a spotlight on something that every Social Security recipient now, or in the future, has the right to know.”

Senator Joe Manchin reaffirmed his commitment to the well-being of seniors, stating, “I am committed to protecting our seniors by making good on the promises we’ve made to them, and our bipartisan Save Our Seniors Act is proof of that. Transparency is vital when it comes to the future of Social Security, and our legislation prioritizes the long-term solvency of the program while also highlighting critical information on its fiscal stability. I’m proud to introduce this commonsense bill with Senators Cassidy and Braun and I will continue working to get it across the finish line.”

The Save Our Seniors Act aims to ensure clarity by including a straightforward graph in the CBO’s ten-year economic outlook, depicting the actual outlook for the Old-Age, Survivors, and Disability Insurance (OASDI) Trust Fund. While similar graphs are present in other Social Security-related reports like the Trustees Reports, the inclusion of such a graph in the widely used CBO outlook will provide crucial information for policymakers and economists assessing the nation's economic health and federal budget.