Social Security's ticking clock just got a little louder. With the trust fund projected to run dry in 2032, the political fight over how to fix it has lost one of its most prominent House champions. Rep. John Larson (D-Conn.) was ousted in Connecticut's 1st Congressional District Democratic primary, a defeat that could reshape the debate in Washington.

Former Hartford Mayor Luke Bronin beat Larson in the primary and will face Republican Amy Chai in November. Larson, who has served 14 terms and long pushed to expand benefits, won't be on the ballot, according to a CNBC report published Sunday.

What Larson's Loss Changes

Larson was the driving force behind the Social Security 2100 Act, a sweeping proposal that would boost benefits, tweak how cost-of-living adjustments are calculated, and raise the minimum benefit for long-term low earners. To pay for it, the plan would slap Social Security payroll taxes on earnings above $400,000, effectively expanding the taxable wage base. It would also apply the payroll tax to certain investment income for taxpayers with adjusted gross income above that threshold.

Larson reintroduced the bill in June and said during a July debate that it would be "one of the first bills taken up" by the next Congress. "We will put Social Security in place and pay for it," he said.

His primary loss means that proposal loses its chief sponsor in the House if he leaves office.

Bronin Says He Would Protect Social Security

Bronin has said he'd keep fighting to protect Social Security, but he also took shots at Larson's record on the issue. During a July debate, Bronin noted that Social Security 2100 never advanced even when Democrats controlled the House.

"To say that it's going to become law in the first 100 days of the next Congress when Donald Trump is in the White House, I think, is not being honest with voters," Bronin said, according to the CNBC report.

Bronin also said he'd be "proud to fight to protect Social Security" and argued that younger Americans should be part of the conversation. His senior adviser told CNBC that Bronin believes lifting the payroll-tax cap should be part of the solution.

Chai, the Republican candidate, opposes raising the payroll-tax cap or rate. Instead, she wants to require government employees to participate in Social Security and prioritize the program's obligations before foreign aid is released.

Advocates Plan to Continue Larson's Push

Larson's departure doesn't necessarily end the push to expand Social Security. Social Security Works, a progressive advocacy group, said it plans to keep fighting for the changes Larson proposed.

"We will take the handoff of Congressman Larson's baton and honor his life's work by fighting harder than ever to make billionaires pay their fair share so we can protect and expand Social Security for everyone," Alex Lawson, the group's executive director, said in a statement, according to the CNBC report.

The group's response signals that advocates intend to keep pushing for higher contributions from the wealthy and expanded benefits even without Larson in Congress.

2032 Deadline Keeps Pressure On

The Social Security retirement trust fund is projected to deplete its reserves in the fourth quarter of 2032. If Congress does nothing, incoming payroll-tax revenue would cover about 78% of scheduled benefits, meaning a roughly 22% cut rather than a total elimination of payments.

A bipartisan group of senators has already proposed the PROMISE Act, which would create a formal process for developing a plan to keep the program solvent for at least 50 years. The proposal would give the bipartisan Social Security Advisory Board a role in crafting recommendations after public input.

The choices facing lawmakers carry different economic and generational costs. A Penn Wharton Budget Model analysis of five potential fixes found that a plan leaning more on benefit reductions could boost long-term GDP, wages, and private investment, while a tax-heavy approach might keep the trust fund solvent longer.

Meanwhile, retirees are waiting on the 2027 cost-of-living adjustment. Latest estimates put the 2027 COLA at 3.5% to 3.6%, with the official number expected in October.

Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by MarketDash editors.