New Social Security Report Underscores Need to Protect Earned Savings, Davids Says

June 11, 2026 Press Release Insolvency Arriving Two Years Sooner Following Administration’s Policies Today, Representative Sharice Davids highlighted findings from the newly released 2026 Social Security Trustees Report , which shows the Social Security trust fund is now projected to become insolvent in 2032. If Congress fails to act, millions of Americans could face an automatic savings cut of roughly 20 percent, costing the average senior approximately $500 per month . "Social Security is a promise that Americans earn over a lifetime of work, and it's a promise we have a responsibility to keep,” said Davids . “This new report makes clear that the cost of inaction is simply too high — millions of seniors, people with disabilities, and families could see their savings cut through no fault of their own. We should be protecting and strengthening Social Security, not making it harder for people to access their earned savings or asking them to pay the price while billionaires get another tax break." The report comes as President Trump and congressional Republicans continue pursuing policies that undermine Social Security, including the largest staffing cut in program history and office closures at the Social Security Administration. President Trump previously called the program a “ scam ,” and earlier this week, Speaker Mike Johnson indicated Republicans could pursue additional changes to the program if they retain their House majority next year. WATCH: Davids speaks this week on the importance of protecting Social Security Last year’s report projected that Social Security would have a modest funding shortfall in 2034. Yet, after considering President Trump’s policies during his second term, this year’s report moves the date to 2032. Congress can prevent those cuts either by increasing revenue flowing into the program or by cutting savings. Davids has made clear that she opposes cuts and supports making billionaires pay their fair share. Social Security is the foundation of retirement security for millions of Americans and provides essential benefits to families and people with disabilities. In Kansas’ Third District alone, 130,424 residents receive Social Security, including more than 105,000 retirees, nearly 10,000 disabled workers, and more than 6,000 children. Davids has consistently defended Social Security and delivered real results: Helped pass the bipartisan Social Security Fairness Act , repealing outdated rules that cut savings for millions of public sector retirees, including teachers, firefighters, and police officers. More than 3.1 million earned payments have already been sent out. Voted against extreme Republican budget proposals that would allow Trump to fire SSA workers, close local offices, and delay savings. Joined Kansans and local advocates at AARP’s Social Security 90th Anniversary Celebration last year. Issues : Making Government Work for Kansans