The race to save Social Security is on — could this proposal be the solution?

Many leaders are worried about funding shortfalls. With revenues down and retirees in need of their benefits, policymakers need a solution fast.

California lawmakers have recently created a proposal that they say could help with this problem. By requiring those who make over $400,000 to pay more toward the program, they say it could make up the difference.

Could this be the solution? Will it provide the funding that Social Security needs? Is it the right way to do it? Let us know your thoughts on this measure in the comments. Don’t forget to follow NORA on Facebook and Twitter for more Social Security news.