Modifications to Social Security Under Trump: Three Key Changes
President Trump has proposed three significant changes to Social Security, although it is still early in his administration and specifics have yet to be finalized. One proposal includes reducing the cost-of-living adjustment (COLA) for recipients, which could result in lower benefit payments over time. Additionally, Trump's budget resolution calls for cuts to mandatory spending programs monitored by Congress, including Medicaid. Furthermore, some of Social Security benefits may be subject to taxation depending on a retiree's combined income.
- The extent to which these changes will affect vulnerable populations, such as low-income retirees or those with limited savings, could significantly impact the long-term sustainability of Social Security.
- How might Trump's proposals to modify Social Security be received by lawmakers from both parties in Congress?