Social Security’s Seven-Year Deadline | Business and Finance News

Social Security’s trust funds are projected to run out in seven years, risking a 17% benefit cut unless action is taken now. A payroll tax hike—possibly as high as 5 percentage points if delayed until 2034—is the most likely fix, but experts argue acting sooner protects younger generations. Other options include removing the income cap or raising the retirement age, though no easy solution exists. Time is running out. Listen in comfort:Get a discount on a Soli Pillow: http://solipillow.com/discount/dnn. Advertise on DNN:[email protected] This is an automated, high-level news summary based on public reporting.Report issues to [email protected]. View sources & latest updates:https://sources.thednn.ai/53e3a57bd6cccf11