Trump’s Plans Set Social Security Benefits Up for 33% Cut, Watchdog Warns
- Deportations, tariffs, tax cuts seen draining trust fund early
- Widening shortfall would drive program to insolvency in 2031
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Donald Trump’s agenda for a second presidential term would drive Social Security to insolvency three years earlier and eventually slash benefits by nearly a third, a nonpartisan budget watchdog group estimated Monday.
The Committee for a Responsible Federal Budget estimated Trump’s plans for massive deportations, tariffs and tax cuts would drain the program’s trust fund by 2031 and lead to a 33% cut in benefits by 2035 unless Congress steps in to shore up the program— a far bigger cut than the 23% shortfall after a decade projected under current law.