~ The Protecting and Preserving Social Security Act aims to restore fairness in Social Security and protect the program from future cuts ~
WASHINGTON, D.C. – Today, on the 90th anniversary of Social Security, U.S. Senator Mazie K. Hirono (D-HI) and U.S. Representative Jill Tokuda (D-HI) reintroduced the Protecting and Preserving Social Security Act, legislation that would strengthen Social Security’s financial state and ensure that seniors continue to benefit from the programs they have paid into throughout their lives.
“For 90 years, Social Security has provided critical support to millions of kupuna, people with disabilities, and other vulnerable communities in Hawaii and across the country,” said Senator Hirono. “Amidst this administration’s attacks on federal programs, I am proud to reintroduce this legislation to help strengthen the Social Security program and ensure that it remains accessible for the millions of Americans who rely on it.”
“Social Security is an earned benefit—not a handout—and a promise that brings peace of mind to following a lifetime of hard work. In Hawaii, nearly 300,000 workers, kupuna, and families depend on it to make ends meet,” said Representative Tokuda. “That’s why I’m proud to reintroduce the Protecting and Preserving Social Security Act with Senator Hirono. Our bill strengthens benefits, accounts for the true cost of living, ends unjust practices like reclaiming final checks, and—most importantly—makes the wealthiest finally pay their fair share, securing this promise for generations to come.”
This bill will make significant progress toward extending the Social Security lifeline. According to the Social Security Administration’s Office of the Chief Actuary, the Protecting and Preserving Social Security Act is expected to extend the ability of the Old Age, Survivors, and Disability Insurance (OASDI) program to pay scheduled benefits in full and on time for an additional 11 years, from 2034 to 2045.
The reintroduction of this legislation follows Trump’s recent attacks on Social Security, including a hiring freeze, efforts to force out workers, and efforts to close field offices, which has led to longer wait times for seniors. It also follows new analysis that shows Trump’s Big Ugly Bill could accelerate the depletion of Social Security trust funds. Earlier this year, Senator Hirono offered a budget amendment that would have prevented DOGE cuts to customer service. However, all but two Senate Republicans opposed the amendment, which was not agreed to.
The Protecting and Preserving Social Security Act aims to improve the Social Security system’s fairness, solvency, and benefits. Specifically, the bill:
In addition to Senator Hirono, the bill is cosponsored by Senators Jeff Merkley (D-OR) and Tina Smith (D-MN) in the Senate.
In addition to Representative Tokuda, the bill is cosponsored by Representatives Steve Cohen (D-TN), Veronica Escobar (D-TX), Lois Frankel (D-FL), Eleanor Holmes Norton (D-DC), Seth Magaziner (D-RI), Brittany Pettersen (D-CO), Chellie Pingree (D-ME), Rashida Tlaib (D-MI), and Paul Tonko (D-NY) in the House.
The Protecting and Preserving Social Security Act is endorsed by the National Committee to Preserve Social Security and Medicare (NCPSSM); Alliance for Retired Americans (ARA); and Social Security Works (SSW).
“The National Committee proudly endorses the 'Protecting and Preserving Social Security Act.' This legislation represents a bold step on behalf of seniors and all Americans, and we thank Senator Hirono and Rep. Tokuda for their leadership on these vitally important matters,” said Max Richtman, President & CEO of the National Committee to Preserve Social Security and Medicare. “For years, we have been calling for an improved COLA formula that reflects the real impact of inflation on seniors, which the current one (CPI-W) does not. Every extra dollar in COLAs will help older Americans to meet their monthly living expenses—from groceries to gas to housing. We also applaud the bill for strengthening Social Security's trust fund by asking the wealthy to pay their fair share. We look forward to working with our allies on Capitol Hill to enact this crucial legislation.”
“The Alliance for Retired Americans is proud to back the Protecting and Preserving Social Security Act, which requires the wealthiest Americans to pay their fair share into Social Security and ensures that full benefits can be paid well into the future. It also changes the formula used to calculate cost-of-living increases to better reflect the cost of goods and services that older Americans spend their money on,” said Richard Fiesta, Executive Director of the ARA. “We are grateful to Sen. Hirono, who has earned a 100% lifetime pro-retiree score in the Alliance's annual Congressional Voting Record, for always fighting to protect older Americans.”
“Social Security Works enthusiastically endorses the Protecting and Preserving Social Security Act. One of Social Security’s most important features is its annual cost of living adjustment which is designed to ensure that Social Security’s modest benefits don’t erode over time. Unfortunately, the current index under-measures the cost of living experienced by Social Security beneficiaries,” said Nancy Altman, President of SSW. “Senator Hirono’s wise legislation updates the formula to make it more accurate and generous. She understands how crucial it is, particularly during this time of rising prices, for Social Security’s cost of living adjustment to reflect the real expenses beneficiaries face every day. Importantly, the legislation ensures that all benefits will continue to be paid in full and on time for the foreseeable future, by requiring that the highest-paid workers contribute to Social Security all year long, just as the rest of us do. Everyone who receives Social Security now or hopes to in the future owes Senator Hirono a debt of gratitude not only for this legislation but also for her invaluable leadership on Social Security.”
The full text of the legislation is available here.
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