Trump's Social Security plan would hasten insolvency, lead to bigger benefits cuts, analysis finds
CBSN
Former president Donald Trump's campaign pledges would hasten the insolvency of the Social Security trust fund and lead to a 33% across-the-board cut to all benefits, according to a new analysis from the nonpartisan Committee for a Responsible Federal Budget (CRFB).
The group's report, released Monday, is based on Trump's vow to eliminate income taxes on Social Security benefits, overtime pay and tipped income, as well as his proposal to slap tariffs on all imports and deport millions of immigrants, many of whom currently pay Social Security taxes.
The CRFB, which advocates in favor of lower federal deficits, said Vice President Kamala Harris's plans "would not have large effects on Social Security trust fund solvency." It added, however, that while Harris has pledged to protect Social Security, neither her campaign nor Trump's have specified how they would fix the looming shortfall in funding.
