This new bill could save Social Security in America — and boost your monthly check. Is it time to kick your heels back?

Vishesh Raisinghani

Sat, September 19, 2026 at 2:05 PM GMT+3 6 min read

Photo by Eric Lee / Getty Images; Caroline Brehman / CQ Roll Call

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The Social Security trust fund is projected to be depleted by the end of 2032 — at which point benefits could be automatically cut by as much as 22% on average, according to the 2026 Trustees Report (1) put out by the Social Security Administration (SSA).

Now, two Democrat lawmakers have proposed a solution that would not only avoid the cut but also boost benefits for some older Americans on the program.

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Rep. John B. Larson and Sen. Richard Blumenthal (2) have recently reintroduced the Social Security 2100 Act*,* which could potentially address the program's funding concerns if passed by Congress. The proposal has already won a strong endorsement from The Senior Citizens League (TSCL) (3).

"The bill is the gold standard for Social Security reform and accomplishes the majority of changes older Americans want to see for the program," TSCL Executive Director Shannon Benton said in a press release.

Here's a closer look at how this proposed bill could save the social safety net for millions of current and future retirees.

Social Security 2100 Act

The key lever used in this proposed legislation is higher taxes on wealthier Americans. The bill would eliminate the Social Security tax cap, which currently sits at $184,500 for 2026, according to the SSA (4). In addition, it would implement a new tax on investment income for taxpayers making over $400,000.

These two levers would generate significant revenue for the Social Security program, delaying the trust fund's depletion by as much as 32 years, according to TSCL's estimates. In fact, it would even allow for a benefit hike to some vulnerable retirees.

Average benefits could be raised by 2%, while the minimum benefit could be raised to 125% of the federal poverty line, helping low-income retirees. At the same time, the annual cost-of-living adjustment (COLA) would be shifted from tracking general inflation to a special Consumer Price Index for the Elderly (CPI-E) benchmark that more accurately measures inflation for older Americans.

"The bill also includes provisions to fight back against the Trump Administration's attacks on the Social Security Administration (SSA), including undoing staffing cuts made by the Trump Administration, blocking any future efforts by the Administration to close Social Security field offices, and preventing 'DOGE' and political appointees from accessing sensitive data systems at SSA," Rep. Larson said in the press release announcing the new legislation.

Simply put, higher taxes on the wealthy could unlock more benefits for ordinary retirees and rescue one of the most popular government programs in the country.

However, a tax hike faces an uphill battle in today's Congress.

Is it time to stop worrying?

For a bill to become law (5), it needs to pass both chambers of Congress and generally needs to be approved by the president. Since Republicans control all three branches, the prospects for this Democrat bill are bleak.

GovTrack (6) gives the proposal a 0% chance of passing.

"Although the Social Security 2100 Act is unlikely to pass in the current Congress, it should," TSCL's Benton said.

With the bill unlikely to pass and no current alternative, it means trust fund depletion and a potential benefit cut will continue to be a looming threat for millions of Americans. And with less than six years to go before that fiscal cliff, now is the right time to prepare.

How to prepare yourself

A benefit cut isn't inevitable. Congress can still act to avert it, beyond this specific proposal. But with the current state of uncertainty, it makes sense to plan for a retirement that's less heavily reliant on Social Security.

Rental income from a portfolio of real estate could add cash flow that substitutes some benefits in retirement. Now, you can tap into this market by investing in shares of vacation homes or rental properties through Arrived.

Backed by world-class investors, including Jeff Bezos, Arrived allows you to invest in shares of vacation and rental properties, earning a passive income stream without the extra work that comes with being a landlord of your own rental property.

To get started, simply browse through their selection of vetted properties, each picked for their potential appreciation and income generation. Once you choose a property, you can start investing with as little as $100.

Plus, for a limited time, when you open an account and add $1,000 or more, Arrived will credit your account with a 1% match.

Adding gold to the retirement mix

If you're worried about inflation, a gold IRA could be an option to consider for building up your retirement fund with an inflation-hedging asset.

Opening a gold IRA with the help of Goldco allows you to invest in gold and other precious metals in physical forms while also providing the significant tax advantages of an IRA.

With a minimum purchase of $10,000, Goldco offers free shipping and access to a library of retirement resources. The company will even match up to 10% of qualified purchases in free silver.

If you're curious whether this is the right investment to diversify your portfolio, you can download your free gold and silver information guide today.

Get some professional help

If you're not sure if either real estate or gold can fit your long-term strategy, a professional might be able to help. Qualified financial advisors can help address your concerns about Social Security and help you come up with alternatives that bridge any gap that Congress leaves you exposed to.

But hiring an advisor can be a lifelong commitment, which might make or break your retirement, making it crucial that you find an advisor who's right for you.

Advisor.com can help you find that expert. Just enter a few details about your finances and goals, andthe platform's AI-powered matching tool will connect you with a qualified expert best suited for your needs based on your unique financial goals and preferences.

Finding the right advisor isn't always easy — there's no one-size-fits-all solution. That's why Advisor.com lets you set up a free initial consultation, with no obligation to hire, to see if they're the right fit for you.

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