WASHINGTON, DC –
Congressman Tom Suozzi (D- Long Island, Queens) introduced the Bipartisan Social Security Commission Act (H.R. 9187) to help ensure that Social Security is fully funded for decades to come. Co-led by Representative Tom Cole (OK-04), this legislation creates a bipartisan, independent commission to address the long-term financial solvency of Social Security.
The 2026 Social Security Trustees Report projects that Social Security’s primary trust fund will be depleted in 2032.
“Social Security is fast approaching insolvency in 2032, and benefits will be cut if Congress fails to act. We cannot allow the promise of Social Security to be broken. The time to act is now!” said Congressman Suozzi. “We owe it to current and future retirees to set partisan politics aside and develop responsible solutions that protect and strengthen the program. This bipartisan commission will produce a proposal to address Social Security insolvency within one year. My thanks to Congressman Cole (R-OK) for joining me in this important bipartisan effort”.
“I am going to tell you the truth that many of my fellow politicians in Washington refuse to acknowledge: the solvency of Social Security is at a critical point, and millions of Americans who have paid into this program throughout their working lives may not receive the money they deserve. Therefore, doing nothing on Social Security is not an option”, said Congressman Cole. “As a Congress, we must act. The Bipartisan Social Security Commission Act will allow us to find commonsense solutions to ensure the long-term survival of this program. I am proud to join Representative Suozzi in the reintroduction of this important legislation, as Social Security is a promise we have made to American seniors that we must keep”.
Modeled after the 1983 Social Security Commission, the Bipartisan Social Security Commission Act creates a 13-member bicameral and bipartisan Commission on Long Term Social Security Solvency. Members are appointed by the president, congressional leaders from both parties in the House and Senate, and the Chair and Ranking Member of the committees with jurisdiction over Social Security: the House Committee on Ways and Means and the Senate Finance Committee. Two of the congressional appointees must be non-elected experts. Within one year of formation, the commission must report to Congress on recommendations to ensure the long-term solvency of Social Security. Once the commission reaches a majority bipartisan consensus, the legislation would receive expedited consideration on both the House and Senate floors.
This legislation has received praise from experts at many organizations including the Bipartisan Policy Center Action, the Peterson Solutions Fund, the Committee for a Responsible Federal Budget, Concord Action, the American Action Forum, the American Enterprise Institute, Third Way, the Progressive Policy Institute and the National Taxpayers Union.
