Lawmakers Open to Tax Hikes for Social Security

As the Social Security trust fund faces insolvency by 2032, a growing bipartisan group of lawmakers is signaling openness to raising payroll taxes. The fund's depletion would trigger a 22% benefit cut. Proposals include eliminating the $184,500 income cap on payroll taxes, which would generate an estimated $3 trillion over a decade, and other revenue-focused plans.