Could your Social Security check shrink? The funding problem Congress must confront

Millions of Americans could face cuts to Social Security benefits if Congress does not address the program’s looming funding shortfall. Social Security reserves are projected to run dry by 2032, and one expert warns benefits could eventually fall by 22%, or about $450 a month on average. Potential solutions include raising payroll taxes, changing the retirement age or reducing benefits, while experts urge Americans to build additional retirement savings. ------------------------------------- Follow Scripps News on other platforms— Join our newsletter at Follow us on Facebook: Follow us on X: Follow us on Instagram: Follow us on TikTok: (Source: Scripps News | Region: Global)