Bernie Moreno and Elizabeth Warren find common ground on lifting Social Security payroll tax cap
This means that only 78% of scheduled benefits in the fourth quarter of 2032 would be paid if the trust fund is depleted as projected. The 2025 report estimate previously set the depletion date for early 2033. However, the SSA says eliminating the payroll tax cap would only address half of the shortfall in the program’s finances.This year, the maximum amount of earnings subject to the Social Security payroll tax is $184,500.
- ▪This means that only 78% of scheduled benefits in the fourth quarter of 2032 would be paid if the trust fund is depleted as projected.
- ▪The 2025 report estimate previously set the depletion date for early 2033.
- ▪However, the SSA says eliminating the payroll tax cap would only address half of the shortfall in the program’s finances.This year, the maximum amount of earnings subject to the Social Security payroll tax is $184,500.
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| Original publisher | Washington Examiner |
| Canonical URL | https://www.washingtonexaminer.com/news/senate/4620544/bernie-moreno-elizabeth-warren-social-security-payroll-tax-cap/ |
| Publication time | Tue, 23 Jun 2026 16:27:14 +0000 |
| Retrieval time | 2026-06-23T16:30:27.092Z |
| Last seen | 2026-06-23T16:30:27.092Z |
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Opening excerpt (first ~120 words) tap to expand
In a rare sign of bipartisanship, Sens. Bernie Moreno (R-OH) and Elizabeth Warren (D-MA) joined forces to find a “common-sense solution” to preserve Social Security for future generations.The Social Security trust fund for retirees is expected to be significantly depleted by late 2032, according to a trustees’ report released by the Social Security Administration earlier this month. This means that only 78% of scheduled benefits in the fourth quarter of 2032 would be paid if the trust fund is depleted as projected. The 2025 report estimate previously set the depletion date for early 2033.
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