Social Security Reform Could Lift Millions of Retirees Above the Poverty Line—But There's One Major Catch

Supporters see the funding deadline as a chance to strengthen Social Security, but Congress's action remains uncertain. (Credit: Wikimedia Commons)

Millions of older Americans could receive a meaningful boost to their retirement income under newly reintroduced Social Security legislation that would raise minimum benefits above the federal poverty line. Yet despite the proposal's ambitious reforms, experts say one major obstacle remains: Congress is unlikely to approve it anytime soon.

The Social Security 2100 Act, reintroduced in Congress this week, would increase monthly benefits by 2%, guarantee a higher minimum payment for low-income retirees, and change how future cost-of-living adjustments (COLAs) are calculated. The proposal arrives as advocacy group The Senior Citizens League (TSCL) maintained its forecast that the 2027 Social Security COLA will be 3.8%, higher than this year's 2.8% increase.