Social Security Insolvency Date Moves to 2032, Triggering 30% Benefit Cut Scenario
The One Big Beautiful Bill Act accelerates Social Security fund depletion to 2032, eight years earlier than previous projections, when automatic 30% benefit cuts would take effect. The legislation combines $1.1 trillion in Medicaid and ACA spending cuts with expanded tax deductions that reduce federal revenue, while Fed Chair Jerome Powell's May 2026 departure creates uncertainty around monetary policy independence.
ViaNews Editorial Team (Finance)•