Wyden says 'a lot' of interest in lifting Social Security tax cap, some from GOP

Sen. Ron Wyden, D-Ore., said Monday that lawmakers have "a lot" of interest in raising the Social Security payroll tax cap. The cap limits how much income is taxed to pay for the program. Wyden is the incoming chair of the Senate Finance Committee, which handles Social Security and tax law. He spoke to reporters on Capitol Hill ¹.

There’s already a lot of interest, and some are starting to pop up on the other side of the aisle for raising the cap. So, we’ll be very involved in that

Right now, taxpayers pay Social Security taxes on up to $184,500 in income. The Social Security Administration typically raises that figure every year ¹. Income above it is not taxed for Social Security.

Why the trust fund is the issue

Trump administration officials warned earlier this year that the Old-Age and Survivors Insurance Trust Fund can pay all scheduled benefits only until the final quarter of 2032. After that, it would cover 78 percent of scheduled benefits ¹. The Congressional Budget Office (CBO) is more pessimistic. It expects the fund to run dry by mid-2032 and cuts as deep as 26 percent ².

A 22 percent cut would hit the average new retiree hard. Newsweek calculated that retired workers now get an average of $2,088 a month, so a 22 percent cut would cost $459 a month, or $5,508 a year ². The 3.6 percent cost-of-living raise announced October 14 for 2027 could not make up that loss ².

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A bipartisan opening, and pushback

Sens. Elizabeth Warren, D-Mass., and Bernie Moreno, R-Ohio, backed lifting the cap over the summer. They called it a "common-sense solution" to the program's funding problem ¹. Newsweek reports that no formal bill has been introduced yet ².

Sen. Bernie Sanders, I-Vt., who will chair the Social Security subcommittee, said Saturday he wants to expand benefits by at least $2,400 a year by scrapping the cap ². Sen. Bill Cassidy, R-La., objected the next day. He said the plan would put a 12.4% tax on people "who are a long way from being millionaires or billionaires" ².

puts a 12.4% tax on people who are a long way from being millionaires or billionaires.

Cassidy instead suggested using "the power of the US economy" to benefit Social Security, similar to another government retirement system. Newsweek also reports that Republicans have voiced support for gradually raising the retirement age and for reducing benefits for higher earners ².

What happens next

Democrats take control of Congress next year ¹. Wyden's remarks suggest the cap will be an early topic in the Finance Committee. Any change would still need to pass both chambers and be signed by President Trump.

That matters because the deadline is fixed. Fixing the fund sooner means smaller changes than waiting until 2032. Wyden's claim that some Republicans are interested is untested until a bill with their names on it gets a vote.

The Record

1. Oct 14, 2026The 2027 Social Security cost-of-living adjustment was announced at 3.6 percent ².
2. Nov 7, 2026Sen. Bernie Sanders said he would push to expand benefits by at least $2,400 a year by scrapping the cap ².
3. Nov 9, 2026Sen. Ron Wyden said there is 'a lot' of interest in raising the payroll tax cap, including from some Republicans ¹.

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<h2>Wyden says &#39;a lot&#39; of interest in lifting Social Security tax cap, some from GOP</h2> <p><em>By The GOP Files Kitchen-Table Desk. This article first appeared on <a href="https://thegopfiles.com/story/wyden-says-a-lot-of-interest-in-lifting-social-security-tax-cap-some-from-gop">The GOP Files</a> on Monday, November 9, 2026.</em></p> <p>Sen. Ron Wyden, D-Ore., said Monday that lawmakers have &quot;a lot&quot; of interest in raising the Social Security payroll tax cap. The cap limits how much income is taxed to pay for the program. Wyden is the incoming chair of the Senate Finance Committee, which handles Social Security and tax law. He spoke to reporters on Capitol Hill .</p> <blockquote><p>There’s already a lot of interest, and some are starting to pop up on the other side of the aisle for raising the cap. So, we’ll be very involved in that</p><p>&mdash; Ron Wyden, U.S. senator, D-Oregon, incoming Senate Finance Committee chair</p></blockquote> <p>Right now, taxpayers pay Social Security taxes on up to $184,500 in income. The Social Security Administration typically raises that figure every year . Income above it is not taxed for Social Security.</p> <h2>Why the trust fund is the issue</h2> <p>Trump administration officials warned earlier this year that the Old-Age and Survivors Insurance Trust Fund can pay all scheduled benefits only until the final quarter of 2032. After that, it would cover 78 percent of scheduled benefits . The Congressional Budget Office (CBO) is more pessimistic. It expects the fund to run dry by mid-2032 and cuts as deep as 26 percent .</p> <p>A 22 percent cut would hit the average new retiree hard. Newsweek calculated that retired workers now get an average of $2,088 a month, so a 22 percent cut would cost $459 a month, or $5,508 a year . The 3.6 percent cost-of-living raise announced October 14 for 2027 could not make up that loss .</p> <h2>A bipartisan opening, and pushback</h2> <p>Sens. Elizabeth Warren, D-Mass., and Bernie Moreno, R-Ohio, backed lifting the cap over the summer. They called it a &quot;common-sense solution&quot; to the program&#39;s funding problem . Newsweek reports that no formal bill has been introduced yet .</p> <p>Sen. Bernie Sanders, I-Vt., who will chair the Social Security subcommittee, said Saturday he wants to expand benefits by at least $2,400 a year by scrapping the cap . Sen. Bill Cassidy, R-La., objected the next day. He said the plan would put a 12.4% tax on people &quot;who are a long way from being millionaires or billionaires&quot; .</p> <blockquote><p>puts a 12.4% tax on people who are a long way from being millionaires or billionaires.</p><p>&mdash; Bill Cassidy, U.S. senator, R-Louisiana</p></blockquote> <p>Cassidy instead suggested using &quot;the power of the US economy&quot; to benefit Social Security, similar to another government retirement system. Newsweek also reports that Republicans have voiced support for gradually raising the retirement age and for reducing benefits for higher earners .</p> <h2>What happens next</h2> <p>Democrats take control of Congress next year . Wyden&#39;s remarks suggest the cap will be an early topic in the Finance Committee. Any change would still need to pass both chambers and be signed by President Trump.</p> <p>That matters because the deadline is fixed. Fixing the fund sooner means smaller changes than waiting until 2032. Wyden&#39;s claim that some Republicans are interested is untested until a bill with their names on it gets a vote.</p> <p><em>Read the original, with every source linked, at <a href="https://thegopfiles.com/story/wyden-says-a-lot-of-interest-in-lifting-social-security-tax-cap-some-from-gop">thegopfiles.com</a>. Republished under The GOP Files' <a href="https://thegopfiles.com/republish">free republishing terms</a>.</em></p> <img src="https://thegopfiles.com/api/rp/wyden-says-a-lot-of-interest-in-lifting-social-security-tax-cap-some-from-gop.gif" alt="" width="1" height="1" style="border:0;width:1px;height:1px">

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Sources

1. The Hill, “Wyden pushes for raising Social Security tax cap” (2026-11-09). thehill.com/newsletters/business-economy/6209264-wyden-pushe
2. Newsweek, “Social Security Cut: Who Could Lose What in 2032?” (2026-11-09). newsweek.com/social-security-cut-who-could-lose-what-in-2032

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