Republican Task Force Proposes Reforms to Prevent Cuts to Social Security Benefits

A GOP study committee has proposed staving off a looming 23 percent cut to Social Security benefits by program reforms, including raising the retirement age.

Rep. Kevin Hern (R-Oklahoma), chair of the Republican Study Committee (RSC), speaks to reporters on Capitol Hill in Washington on Oct. 23, 2023. Alex Wong/Getty Images

A Republican task force made up of the biggest group of conservatives in the House has released a reform proposal to prevent cuts to Social Security benefits as the system teeters on the verge of bankruptcy.

Social Security is facing future challenges because of factors including inflation and lower-than-expected tax revenue, with several estimates indicating that the main Social Security fund will run out of money in about 10 years, leading to cuts in benefits.