Financial Impact of Trump's Proposals
Trump's campaign promises, including tax cuts on Social benefits, overtime pay, and tips, alongside proposed tariffs and mass deportations, are projected to accelerate Social Security's insolvency to 2031, three years earlier than current estimates.
The (CRFB) estimates that these policies would increase Social Security's 10-year shortfall by $2.3 trillion and necessitate a 33% cut in benefits by 2035, a significant increase from the current 23% cut projection.
Responses and Alternatives
Trump's campaign vehemently disagrees with the CRFB's analysis, asserting that Trump will "strongly protect Social Security" in his second term, contrary to claims that his policies would jeopardize the program's solvency.
While both Trump and Democratic nominee pledge to protect Social Security, the CRFB suggests Harris's proposals would have minimal impact on the program's funding, contrasting with the significant risks posed by Trump's agenda.