Bipartisan group of senators introducing legislation to avert looming Social Security shortfall

A bipartisan group of senators is introducing the PROMISE Act to address Social Security's projected 2032 funding shortfall. The legislation proposes an independent advisory committee to develop solvency recommendations, aiming to force Congress to vote on a long-term solution. The shortfall is attributed to lower birth rates, reduced immigration, and revenue impacts from a Republican tax and spending bill.