The “S.O.S Act” introduced by Rep. Reid Ribble (R-WI), includes many forms of benefit cuts, including
a higher retirement age and a less generous inflation adjustment.
However, it also includes proposals more often favored by Democrats: The bill would raise the cap on the payroll tax from $118,500 to $308,750,
raise benefits for the oldest Americans, and create a minimum benefit for beneficiaries at or near the povery level.
Advocates of Social Security expansion have construed this move as an evolution
in the national Social Security conversation, and a net shift towards the left.