Social Security at 90: Poll Finds 83% Say Program’s Challenges Need to be ‘Top Priority’
More than 9 in 10 (93%) of Americans consider Social Security to be a valuable federal program and 83% think addressing the program’s challenges should be a top priority for Congress, according to new polling commissioned by the Bipartisan Policy Center’s American Savings Education Council.
The new survey, released today, the 90th anniversary of the creation of Social Security, shows significant consensus among the public about the program’s value, as well as serious anxiety about its future (in spite of President Trump’s proclamation today saying “Social Security now stands stronger and more resilient than ever before”—more below).
The poll of more than 4,000 American adults conducted between July 30-August 5 found that not only do Americans consider Social Security to be a valuable federal program—it received the highest rating of the programs tested.
The poll comes as Social Security’s primary trust fund is currently projected to be depleted in 2032, just 7 years from now. Without congressional action, both current and future retirees would face an across-the-board benefit cut of more than 20%.
“Social Security is at a crossroads, and policymakers should listen to the American people and act sooner rather than later,” said Jonathan Burks, BPC’s executive vice president of economic and health policy. “Americans across the political spectrum agree strongly that Social Security matters, and they want to see bipartisan work to strengthen the program for the future. Now it is up to lawmakers to build on this consensus and do the hard work of forging a path forward.”
The new BPC poll found 74% of the public is concerned that Social Security will run out before they retire, and 80% are worried that Congress will cut benefits. Even so, 41% of Americans expect Social Security to be their primary source of income during retirement.
Republicans and Democrats alike want members of Congress to work across the aisle to reform Social Security. 64% of Democrats and 61% of Republicans agree on the need for bipartisan cooperation to strengthen the program. Strong bipartisan majorities support increasing Social Security’s revenues while targeting benefits to those who rely most on the program.
Two-thirds of those polled want Congress to take near-term action to solve Social Security’s impending challenges. Specifically, 47% say that they want Congress to address Social Security’s financial shortfall as soon as possible, with both parties working together, and an additional 20% say that they want a bipartisan commission created to develop a comprehensive plan—and for Congress to approve that plan.
Both groups indicate that they would support these actions even if the ultimate plan might include specific provisions they don’t like. Only 17% of respondents want Congress to wait to address Social Security’s financial shortfall.
“At a time when our national debt is already dragging down economic growth, it’s critical to have a plan for shoring up Social Security benefits that isn’t just borrowing more money,” said Shai Akabas, BPC’s vice president of economic policy. “The only way we get a fix is if the two parties hold hands and jump together. These results show that the American people understand and support that outcome. It’s time for our elected leaders to follow suit.”
A more extended breakdown of the results is available here. This week, BPC also published a new FAQ on Social Security, looking at some of the common misconceptions surrounding the program.
The White House today released a proclamation from President Donald Trump on the 90th anniversary of the Social Security Act. In it, Trump recommitted to always defending Social Security, rewarding the men and women who make the country prosperous, and taking care of our own workers, families, seniors, and citizens first.
“Thanks to my Administration’s efforts, Social Security now stands stronger and more resilient than ever before. Following the passage of the historic One Big Beautiful Bill last month, the vast majority of seniors who receive Social Security will pay zero tax on their Social Security benefits—the largest tax break for seniors in the history of our country,” the proclamation reads.
EDITOR’S NOTE: The OBBB did not end taxation of Social Security benefits but rather provides a temporary tax deduction to qualifying seniors. The bill adds a $6,000 deduction per taxpayer age 65+ (up to $12,000 for married couples filing jointly), applicable in tax years 2025 through 2028. These deductions, which phase out for those with AGI above $75,000 (single filers) and $150,000 (married, filing jointly) apply to total taxable income—not specifically to Social Security benefits—and are not tied to receiving those benefits. The White House says this change ensures that about 88% of seniors will pay no federal tax on their Social Security income.
Today’s proclamation went on to say that to further strengthen Social Security, the Trump administration is “aggressively rooting out all fraud, waste, and abuse that rob our Federal programs of resources—including stopping payments to the deceased and eliminating benefits for those who do not legally qualify.”
The proclamation says these measures will save American taxpayers billions of dollars every year and ensure that future generations receive the benefits they spent their lives paying into.
“At the same time, I am making the Social Security Administration more efficient, more responsive, and more effective than ever before—reducing wait times and delivering the payments the American people worked hard to earn,” Trump wrote. “I am also proudly restoring strong border security policies to ensure that Medicare and Social Security are preserved for the citizens who paid into them—not abused by illegal aliens who have no right to be here.”
Read today’s Proclamation from President Trump here.
SEE ALSO:
• Social Security Plays Bigger Role for Lower-Income Households
• Social Security Turns 90: Still Popular, Still Under Pressure
• Schumer Introducing New Legislation to ‘Protect’ Social Security
Veteran financial services industry journalist Brian Anderson joined 401(k) Specialist as Managing Editor in January 2019. He has led editorial content for a variety of well-known properties including Insurance Forums, Life Insurance Selling, National Underwriter Life & Health, and Senior Market Advisor. He has always maintained a focus on providing readers with timely, useful information intended to help them build their business.
