We Can't Wait Act of 2026
- Bill Number
- S. 3924
- Origin Chamber
- Senate
- Congress
- 119th Congress, Session 2
- Policy Area
- Social Welfare
- Status
- Introduced
- Latest Action
- 2026-02-25: Read twice and referred to the Committee on Finance.
- Last Updated
- 2026-03-16T18:05:41Z
AI-Generated Summary
We Can't Wait Act of 2026 (S. 3924)
Purpose This bill amends the Social Security Act to let eligible disabled individuals choose to receive disability insurance benefits during the standard five-month waiting period, rather than waiting for the period to end. The goal is to provide earlier income support while adjusting benefit amounts to keep the Federal Disability Insurance Trust Fund financially neutral over the long term.
Key Provisions
- Individuals under early retirement age may elect to receive benefits during the waiting period by submitting a written choice (including via application forms) at specific times, such as when filing an initial application, requesting reconsideration, or seeking an administrative law judge hearing.
- The election can be made or revoked within set windows, but not during the first month of eligibility. Representative payees may confirm or revoke the choice on behalf of the beneficiary.
- Benefits received under this election are reduced: initially to 94.25 percent of the normal amount for the first 36 months after the effective date, with later percentages set by the Commissioner to ensure actuarial neutrality for the Trust Fund.
- The reduced benefit amount stays fixed for the entire eligibility period and does not change with future recalculations.
- The Social Security Administration must update application forms, post public information online, and provide a benefit calculator showing the effects of electing early payment.
- The Chief Actuary must review and adjust the reduction percentage every five years; if adjustments cannot maintain neutrality, a report with recommendations must be sent to Congress.
Significant Changes to Existing Law Current law requires a five-month waiting period before disability insurance benefits begin. This bill adds an optional early-payment pathway with a permanent reduction in benefit level for those who choose it, along with new administrative procedures for elections and actuarial safeguards.
Potential Impacts
- Government agencies: The Social Security Administration must revise forms, create online tools, perform periodic actuarial calculations, and handle new election processes.
- Citizens: Disabled applicants gain the option of earlier payments at a reduced rate, which may help with immediate financial needs but results in lower ongoing monthly benefits.
- Trust Fund: Long-term fiscal impact is designed to remain neutral regardless of how many people elect early benefits.
No direct effects on international relations are specified.
Main Stakeholders Affected
- Individuals applying for or receiving Social Security disability insurance benefits.
- The Social Security Administration and its Chief Actuary.
- The Federal Disability Insurance Trust Fund.
- Representative payees appointed to manage benefits for beneficiaries.
Notable Legal, Constitutional, or Political Implications The bill operates entirely within existing Social Security authority and does not raise apparent constitutional issues. It introduces a voluntary trade-off between earlier access and reduced benefit amounts, with built-in mechanisms to protect the Trust Fund’s solvency. The requirement for periodic actuarial reviews and potential congressional reports adds ongoing legislative oversight.
This summary was generated by AI and may contain inaccuracies. Refer to the official source document for the authoritative text.
Sponsor
Cosponsors (1)
Sen. Hassan, Margaret Wood [D-NH]
Recent Actions
- 2026-02-25: Read twice and referred to the Committee on Finance.
- 2026-02-25: Introduced in Senate
Bill Versions
- We Can't Wait Act of 2026 — issued 2026-02-25 — PDF (8 pages)