Sen. Crapo to Yellen: Where's the Social Security Trustees Report?

Crapo said the delay is “especially troubling” considering Congress is expected to consider further legislation this year that will affect Social Security and Medicare. He also noted that he and House Ways and Means Ranking Member Kevin Brady, R-Texas, asked about the reports in late May and have received no response.

“Assessing the true nature of the trust funds’ current financial status is time sensitive,” Crapo said. “Reasons could always be concocted to explain away missing the statutory deadline. There are no repercussions to the Managing Trustee for failing to meet the statutory deadline. And, it appears that the reporting deadline has no operative meaning. I welcome any suggested legislative ideas from you to cure this problem.”

Crapo told Yellen that “either through reconciliation or regular order, there is every expectation that Congress will consider additional legislation impacting mandatory programs during the remainder of this year. Before Congress debates any further legislation, it is imperative that policymakers have accurate information explaining the status of the two trust funds.”

He added: “Please provide Congress and the American people with an expected delivery date of the overdue trustees’ reports.”