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As we celebrate the 90^th anniversary of Social Security this week, Congresswoman Veronica Escobar (TX-16) joined U.S. Senator Mazie K. Hirono (D-HI) and U.S. Representative Jill Tokuda (D-HI) to reintroduce the Protecting and Preserving Social Security Act, legislation that would strengthen Social Security’s financial state and ensure that seniors continue to benefit from the programs they have paid into throughout their lives.

“Today, over 132,000 El Pasoans rely on Social Security, including over 100,000 seniors,” said Congresswoman Escobar. “At a time when this critical program faces some of its greatest threats from DOGE and Republicans intent on dismantling, cutting, or privatizing Social Security, I proudly stand with my Democratic colleagues to protect these hard-earned benefits by ensuring the wealthiest pay their fair share.” 

This bill will make significant progress toward extending the Social Security lifeline. According to the Social Security Administration’s Office of the Chief Actuary, the Protecting and Preserving Social Security Act is expected to extend the ability of the Old Age, Survivors, and Disability Insurance (OASDI) program to pay scheduled benefits in full and on time for an additional 11 years, from 2034 to 2045.

The reintroduction of this legislation follows Trump’s recent attacks on Social Security, including a hiring freeze, efforts to force out workers, and efforts to close field offices, which has led to longer wait times for seniors. It also follows new analysis that shows Trump’s “big, beautiful” bill could accelerate the depletion of Social Security trust funds. 

The Protecting and Preserving Social Security Act aims to improve the Social Security system’s fairness, solvency, and benefits. Specifically, the bill:

• Ensures the appropriate weight is given to the real costs in seniors’ budgets by using the Consumer Price Index for the Elderly (CPI-E) to calculate the relevant cost-of-living adjustment (COLA), rather than the more generic Consumer Price Index for Urban Wage Earners (CPI-W); and

• Requires the wealthiest Americans to pay their fair share by phasing out the cap on Social Security contributions, gradually over the next seven years.

The full text of the legislation is available here.