CNBC: U.S. Senate election results could determine the fate of the Social Security Trust Fund, which is projected to run out in 2032.
CNBC reports that the outcome of the U.S. Senate elections could determine the fate of the Social Security fund, which is projected to run out in 2032. The Social Security Retirement Trust Fund could be depleted by Q4 2032, and benefits could be cut by 22% if Congress does not act before then. Senators elected this November will serve terms that cover this period. A survey of voters in competitive states shows that 81% of voters prefer candidates who have a plan to avoid automatic benefit cuts.
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Disclaimer: This content reflects the author's personal views only and does not constitute investment advice.
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