What Democrats Are Doing:
Democrats believe a dignified retirement is central to the American Dream, and its foundation is built on two long-standing institutions charged with realizing that dream: Medicare and Social Security. These two institutions represent an unbreakable commitment to American workers, and for decades Democrats have fought to defend that commitment.
President Biden proposes to boost average benefits across the board while putting Social Security on a long-term path to solvency by raising taxes on those who can easily afford it, who earn more than $400,000 a year.
President Biden also proposes to raise benefits for vulnerable beneficiaries—including widows and widowers, low-wage workers, and long duration beneficiaries who may have exhausted all other assets.
See also https://democrats.org/where-we-stand/the-issues/retirement-security/
What Republicans Are Doing:
Since 1980, Republicans, including Paul Ryan and Ron DeSantis, have tried to make deep cuts to Social Security and Medicare every time they thought there might be a political window of opportunity. President George W. Bush tried to privatize Social Security. Here are some more recent examples:
See more here: https://www.whitehouse.gov/briefing-room/statements-releases/2023/02/09/fact-sheet-congressional-republicans-many-proposals-to-cut-social-security-and-medicare-and-increase-prescription-drug-prices-and-health-care-premiums/