Oppose Policies Accelerating Medicare and Social Security Insolvency

I am writing to express serious concern about recent policy decisions that are accelerating the insolvency of Medicare and Social Security, programs that millions of seniors depend on for their health care and financial security. The Congressional Budget Office reports that Medicare's Hospital Insurance Trust Fund has lost 12 years of projected solvency in less than a year. The fund is now expected to be exhausted by 2040, compared to the previous 2052 estimate from March 2025. The primary culprit is the One Big Beautiful Bill Act (Public Law 119-21), which significantly reduced revenues by lowering tax rates and establishing a temporary deduction for taxpayers age 65 or older. When this fund is depleted, benefits would need to be cut by 8% initially, rising to 10% by 2056. Social Security faces a similar crisis. The Old-Age and Survivors Insurance Trust Fund is now projected to be depleted by 2032, one year earlier than previous estimates. This acceleration stems from the OBBBA's $6,000 additional standard deduction for taxpayers 65 and older, deductions for tips and overtime pay, and reduced immigration resulting in fewer workers contributing payroll taxes. The Social Security Administration's Office of the Actuary estimates the OBBBA will increase combined costs by $168.6 billion from 2025 through 2034. These are not abstract numbers. About 70 million Americans receive Social Security benefits, with 40% of those 65 and older relying on it for half or more of their income. When the OASI trust fund is exhausted, beneficiaries would face benefit cuts of approximately 20 to 28%. The average Social Security retirement benefit as of January was $2,071 per month. These cuts would devastate seniors who have paid into these programs their entire working lives. While tax breaks provide immediate relief, they are accelerating the insolvency of the safety net programs seniors depend on most. I urge you to oppose any further legislation that undermines the solvency of Medicare and Social Security and to support measures that strengthen these critical programs for current and future beneficiaries.