Senate Races Put Social Security Cuts on Ballot

Candidates in nine closely contested Senate races are taking positions on how to prevent projected automatic retirement benefit cuts.

Updated on Nov. 4, 2026 in Retirement Planning

Bold flat-color editorial illustration of a deep red civic dome rising above a cream horizon band, evoking an institutional deadline. — Senate candidates in nine closely contested races are staking out competing plans to prevent projected 22% automatic cuts to Social Security retirement benefits. AI Illustration. Upload story photo >

Live Poll

Would a candidate's specific Social Security plan make you more likely to vote for them?

Senators elected this November will face decisions about Social Security's future, as the trust fund may be depleted in the fourth quarter of 2032. Depletion could trigger automatic 22% cuts to retirement benefits if Congress does not enact reforms beforehand.

Why it matters

Voters in competitive Senate states are seeking specific plans to prevent benefit reductions, with 81% of surveyed voters more likely to support candidates who offer them. Many candidates still lack detailed Social Security reform proposals on their campaign platforms.

A survey found 81% of voters in competitive Senate states are more likely to support candidates with specific plans to prevent automatic benefit cuts, which could reach 22% if the trust fund is depleted in late 2032. CNBC identified nine closely contested Senate races where candidates have articulated Social Security positions, though many candidates still lack detailed proposals.

The players

Susan Collins

Incumbent Republican U.S. Senator from Maine, who suggested adjusting the payroll tax cap and establishing a commission of independent financial experts.

Dan Sullivan

Incumbent Republican U.S. Senator from Alaska seeking reelection against Democratic challenger Mary Peltola.

Mary Peltola

Democratic challenger in Alaska's Senate race, whose platform focuses on eliminating taxes on Social Security benefits.

Troy Jackson

Democratic challenger in Maine's Senate race, who called for raising the income threshold subject to payroll taxes and increasing retiree benefits.

CNBC

Cable business news network that identified nine closely contested Senate races where candidates have articulated positions on Social Security's future.

The details

In Alaska, incumbent Republican Sen. Dan Sullivan faces Democratic challenger Mary Peltola, whose platform focuses on eliminating taxes on Social Security benefits. In Iowa, Democratic state Rep. Josh Turek proposes raising or eliminating the payroll tax cap on high earners, while Republican U.S. Rep. Ashley Hinson opposes benefit cuts; in Maine, incumbent Republican Susan Collins and Democratic challenger Troy Jackson have offered differing approaches.

November 2026: Senate elections where Social Security positions are contested.
Fourth quarter of 2032: Projected depletion of the Social Security trust fund.

Retirement Outlook

The election debate centers on the Social Security trust fund's projected depletion in the fourth quarter of 2032, which would trigger automatic 22% benefit cuts if Congress does not act. Senate candidates in competitive races are now translating that funding timeline into concrete campaign positions on taxes and benefit structures.

A projected 22% automatic benefit cut would directly reduce retirement income for those relying on Social Security. Voters weighing Senate candidates may want to compare each candidate's specific plan for preventing that reduction.

The takeaway

Retirement planners may want to account for the possibility of automatic benefit reductions when modeling future Social Security income. Comparing candidates' specific reform proposals can clarify which policy paths are being seriously considered.