The report states that under a Trump presidency, the timeline for Social Security's trust fund to deplete would move up from 2034 to 2031, resulting in reduced benefits for recipients.
Trump's proposal to exempt Social Security benefits from taxes would eliminate a significant funding mechanism, as currently about 40% of recipients pay taxes on their benefits.
CFRB highlighted that Trump's immigration policy, particularly massive deportations, would negatively impact Social Security funding by removing net contributors to the program.
The impact of tariffs proposed in Trump's agenda could significantly increase the cost of living adjustments, further straining Social Security, especially as prices for goods rise.
Collection
[
|
...
]