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.