In 1994, Congress raised the tax rate for SSDI by about 50 percent. The Social Security Trustees warned that Congress must implement SSDI reforms to ensure the program’s long-run solvency. Yet Congress did nothing, SSDI beneficiaries and costs surged, the Trust Fund rapidly declined, and it is now projected to be insolvent in 2016.
In 1994, Congress raised the tax rate for SSDI by about 50 percent. The Social Security Trustees warned that Congress must implement SSDI reforms to ensure the program’s long-run solvency. Yet Congress did nothing, SSDI beneficiaries and costs surged, the Trust Fund rapidly declined, and it is now projected to be insolvent in 2016.