Democratic U.S. Senate candidate Zach Wahls from Iowa has proposed a plan to lengthen the solvency of Social Security.

Wahls is a current member of the Iowa Senate, and his laws, often known as the “Keep the Promise Act,” goals to reverse the Trump administration’s cuts to Social Security. It requires the rich to contribute a better share of their income to the program. 

This comes after consultants have warned Social Security may attain insolvency by 2033, which means there received’t be enough for checks in the future. Several proposals have come about to handle the issue, including one from the Committee for a Responsible Federal Budget that requires caps on the cost-of-living changes for high earners may help save $115 billion over a decade.

“I think we should be keeping the promise of Social Security, strengthening it for both current generations and future generations like ours,” Wahls said in an interview. “Millennials are paying a ton of money into Social Security, and we deserve to have those benefits and be able to retire with security and dignity when it’s our time.”

The proposal requires reversing the cuts made to the program’s funds by the federal Department of Government Efficiency.

“We hear everywhere we go across the state from Iowans who are on Social Security who are already seeing that benefits are not keeping up with the increasing cost of living and who are very worried and frustrated by the cuts that have been made to the operation of Social Security,” Wahls said.

“As your next U.S. senator, I will act on my first day in office to reverse these devastating cuts and keep the promise of Social Security because it’s the right thing to do, and our seniors deserve a senator who will fight for them, not sell them out to Wall Street,” he added.

What are the key components of Senator Wahls’ proposal?

Besides reversing the cuts made to the program’s funds, Senator Wahls proposes lifting the cap on Social Security contributions for higher-wage earners. 

Currently, taxpayers are subject to Social Security taxes on their first $184,500 in wages. Wahls pitches making use of the same Social Security taxes on wages above $400,000.

His campaign guarantees that this would maintain Social Security taxes at the same charge for 98% of Iowans. These funds could be used to increase the advantages supplied and ultimately prolong the program’s solvency.

Wahls’ proposal is based on the Social Security 2100 Act, initially launched by U.S. Rep. John B. Larson of Connecticut. 

“By increasing income into Social Security by scrapping the cap, you can also expand benefits for all Americans who receive these benefits,” he said in an interview.

Wahls is one of many Democrats searching for the occasion’s 2026 U.S. Senate nomination. Others in the operating are state Rep. Josh Turek, former Knoxville Chamber of Commerce Director Nathan Sage, and former state lawmaker Bob Krause.