WASHINGTON, July 29 -- Sen. Chris Coons issued the following press release:
U.S. Senators Chris Coons (D-Del.), Dick Durbin (D-Ill.), Bill Cassidy (D-La.), Tim Kaine (D-Va.), Thom Tillis (R-N.C.), Angus King (I-Maine), John Cornyn (R-Texas), and Alan Armstrong (R-Okla.) introduced the Protecting Retirement and Maintaining Income Security for Everyone (PROMISE) Act. This legislation follows the annual report from the Social Security Board of Trustees, which found that the Social Security Trust Fund will only cover 78 percent of benefits in 2032-meaning that Americans who rely on the program will have their benefits reduced by 22 percent if Congress does not act.
"Congress has talked for years about the need to shore up Social Security so t...