10 Jun 2026 Fact Sheet: The Bipartisan Social Security Commission Act of 2026 in Retirement and Social Security
The Bipartisan Social Security Commission Act of 2026 (H.R. 9187), led by Reps. Tom Cole (R-OK) and Tom Suozzi (D-NY), establishes a structured, time-limited commission of lawmakers and outside experts charged with developing bipartisan legislation to restore Social Security’s long-term financial solvency. The bill guarantees that a solvency plan will receive a vote in Congress.
The Challenge: Averting an Automatic Benefit Cut in 2032
The 2026 Social Security Trustees Report projects that the program’s primary trust fund will be depleted in 2032. Under current law, depletion automatically triggers an across-the-board benefit cut of 22% for every current and future beneficiary—roughly $10,560 per year for a married couple of average earners. The causes are well known:
- An aging population has strained a shrinking workforce. In 1960, there were five workers paying Social Security taxes per beneficiary; today that ratio is 3-to-1 and falling.
- Americans are living significantly longer, meaning record numbers of retirees are spending record lengths of time drawing benefits.
- The payroll tax base has shrunk from 90% of covered earnings in 1983 to 83% today, as wages above the taxable maximum have grown faster than those below it.
The program faces a 75-year shortfall that exceeded $25 trillion last year and worsened significantly in 2026 as SSA revised its fertility projections downward. The longer Congress waits, the larger and more disruptive the eventual fix will need to be. And fixing Social Security cannot happen through reconciliation or partisan legislation alone: it requires 60 votes in the Senate. The last time Congress successfully restored the program’s finances was 1983, and it was a bipartisan commission that laid the groundwork for bipartisan legislation.
The Solution: A Commission Built for Results
The bill creates a 13-member Commission on Long-Term Social Security Solvency, with members appointed by the president, congressional leaders of both parties, and the chairs and ranking members of the Ways and Means and Finance Committees. At least one expert from each party must be a non-elected, outside expert. The commission’s key features:
- Within one year of its first meeting, the commission must produce recommendations and proposed legislation sufficient to keep Social Security solvent for at least 75 years.
- The report must be approved by at least 9 of 13 members, guaranteeing genuine bipartisan support before anything reaches Congress.
- Once the commission reports, committees in both chambers are required to act within three legislative days and the bill is automatically discharged if they fail to do so. The bill then proceeds to a full floor vote without amendment.
- Any savings or revenue the plan achieves must go entirely to Social Security. None can be diverted to other parts of the federal budget.
A Pathway for Established Policy Options
BPC’s own Commission on Retirement Security and Personal Savings showed more than a decade ago that fixing Social Security is achievable through a balanced package of benefit adjustments and revenue increases, one that would leave nearly every beneficiary better off than the automatic cuts triggered by current law. What has been missing is a legislative mechanism to turn bipartisan agreement into bipartisan action. This bill provides exactly that. BPC Action also recognizes that regular order and other procedural approaches can also advance Social Security solvency, and we welcome efforts across all viable paths.
BPC Action Supports the Bipartisan Social Security Commission Act
“America’s current and future retirees deserve a Social Security system that is financially strong, stable, and protected from automatic benefit cuts. With the program’s main trust fund projected to become insolvent in just six years, Congress cannot afford continued inaction. BPC Action commends Reps. Tom Cole (R-OK) and Tom Suozzi (D-NY) for recognizing that meaningful Social Security reform will require bipartisan leadership and compromise. Their Bipartisan Social Security Commission Act offers a credible path forward by bringing together lawmakers and experts to strengthen the program and help secure Americans’ earned benefits for decades to come,” says Michele Stockwell, president of Bipartisan Policy Center Action.
The bill has received praise from leading experts Social Security from policy organizations across the political spectrum.
