Republican budget hawks in Washington are backing a Social Security plan that would gradually raise the full retirement age to 69 for younger workers in the United States, a move they argue is needed to salvage Social Security as its main trust fund edges towards depletion in 2032.
The proposal, outlined in the House Republican Study Committee's budget plans and public statements, would reshape when Americans can claim full benefits and sits against a backdrop of warnings that, without reform, automatic cuts of around 24% to Social Security could kick in within the decade.
