This Potential Social Security Fix Has Bipartisan Support, and It Won't Cost Ordinary Americans
This could be a great first step toward a long-term fix.
Overview
Democrats and Republicans don't seem to agree on much these days, but both parties understand that Social Security needs reforming. The latest Trustees' Report revealed that the program is just six years away from a potentially devastating 22% benefit cut, and many seniors are already struggling to get by with the checks they have today.
There are ways to avoid the cut, but so far, no plan has gained the traction it would need to become law. However, one proposal -- raising the ceiling on Social Security payroll taxes -- has garnered bipartisan support, and most Americans wouldn't notice any changes to their annual tax bill if it passed.
Image source: Getty Images.
Details
Source
Originally published at www.fool.com.