Commissioner Frank Bisignano defended the Social Security Administration (SSA) in his congressional testimony, highlighting lower call wait times and a fiscal report card for the agency. He also addressed the agency's financial insolvency, stating that the SSA will deplete its two major trust funDs by 2034 if Congress does not intervene.
Commissioner Frank Bisignano stood up for his agency in his congressional testimony on Wednesday, touting lower call wait times and, essentially,a fiscal report card for the agency.
The assessment detailed that the agency will deplete its two major trust funds — the Old-Age and Survivors Insurance and Disability Insurance trust funds — by 2034 if Congress does not step in to help. At that point, SSA benefits would only be 83% payable, Vance and Trump inner circle butted heads over potential Tucker Carlson interview during Epstein fallout: Book excerpt.
We now answer 90% of calls to our 800 number, and have reduced average wait time to five minutes, a 75% improvement. Simultaneously, fiscal year to date, we're serving 56% more individuals,which represents 13 million additional customers served.
Commissioner Bisignano, who sits on the board of trustees, urged Congress to act to ensure the trust fUnds continue to flow and said he is working to make the SSA function as well as possible so Congress can decide how to approach the program’s financial insolvency. He told the House Ways and Means subcommittee on Social Security his job is ‘to make it perform as well as possible’ to tee up Congress to ‘have a set of options and choices to decide on how this great American program’ can have sufficient funding in 2034.
Though he did not specify how he hopes Congress will intervene to help the agency, few lawmakers asked about insolvency and how the legislative chamber could address the agency’s financial woes, as the stated insolvency cliff is less than a decade away. The 2034 cliff on the Ancient-Age and Survivors Insurance and Disability Insurance Trust Funds is the same as last year’s estimate.
To protect the promise of Social Security, it is important for lawmakers and the Social Security Administration to work together to ensure the trust funds continue to provide financial stability now and for future generations. Most of the questioning from Democrats focused on staffing levels at the agency, which saw thousands of workers axed as part of the’s efforts to downsize the federal government.
Commissioner Bisignano maintained that the staffing reductions have not negatively affected the agency’s ability to assist customers and reiterated that the agency is commited to never closing a field office after the staffing cuts
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