House Republican says Congress ‘needs to get their act together’ on Social Security ahead of deadline

Rep. Jason Smith (R-Mo.) said Wednesday that Congress has to act on Social Security, a day after the Trump administration projected that one of the program’s trust funds will run out by 2032. 

“Congress needs to get their act together to address Social Security and the insolvency that’s coming, instead of poking blame at other people whenever it is our duty and our responsibility,” said Smith, the chair of the House Ways and Means Committee, during a joint subcommittee hearing that Social Security Administration (SSA) Commissioner Frank Bisignano spoke at.

The board of trustees of Social Security and Medicare reported on Tuesday that the former program’s Old-Age and Survivors Insurance (OASI) Trust Fund will be able to pay 100 percent of its total scheduled benefits until only the fourth quarter of 2032 — a quarter earlier than they projected last year.

At that point, the OASI fund will be able to cover 78 percent of total scheduled benefits, an increase of 1 percent relative to last year’s report. 

Smith said Wednesday that he hopes that Republicans and Democrats in Congress “will come together” to address the looming deadline for Social Security. He........

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