Central Louisiana News

U.S. Senator Bill Cassidy, M.D. (R-LA) issued a statement following the release of the Trustees of the Social Security and Medicare trust funds annual report, which predicts Social Security becoming insolvent in 2033 and the Medicare Trust Fund in 2036. The report suggests a 21% benefit cut for all beneficiaries. Cassidy emphasized the importance of addressing the issue, stating, "The next president must find the courage to be honest with Americans that Social Security needs help to avoid the automatic 21% cut in nine years."

During a U.S. Senate Finance Committee hearing, U.S. Treasury Secretary Janet Yellen acknowledged to Cassidy that President Biden currently lacks a plan to extend the solvency of Social Security.

Senator Cassidy has been actively working on initiatives to protect Social Security, including leading a bipartisan group and engaging with various organizations to discuss solutions for the future of these programs.