A Toss-Up Texas Senate Race Is Becoming a Fight Over Social Security’s Future

Millions of retirees could receive less than their full Social Security benefit within the next U.S. senators' term if Congress fails to act—raising the stakes in this year’s most competitive Senate races.Social Security’s Old-Age and Survivors Insurance trust fund, which pays retirement and survivor benefits, is projected to exhaust its reserves in late 2032. At that point, continuing revenue would cover about 78% of scheduled benefits, leaving a 22% shortfall.Now, the winners of 33 regular Senate elections this November may decide how Congress responds.“Senators elected this fall will be in office when Social Security becomes insolvent,” Sen. Ron Wyden, the ranking Democrat on the Senate Finance Committee, warned at an Aug. 5 hearing.Few places illustrate the coming collision more clearly than Texas, where the race between Republican Ken Paxton and Democrat James Talarico moved to a toss-up this week.In exclusive comments to Realtor.com®, both candidates pledged to protect Social Security—but through very different means.Their competing visions come as a once-dormant debate over Social Security privatization resurfaces, reviving questions about whether Americans should be allowed...