Prediction: These 2 Moves by President Trump Could Affect Future Social Security COLAs
Donald Trump had no shortage of promises throughout his campaign. He vowed to end the federal income tax on Social Security benefits, for example, as well as eliminate tax on overtime pay and tips.While these laws have not been enacted yet (and Trump would need congressional approval to pass any sweeping tax laws), there are other ways he could influence Social Security in more indirect ways. There are two moves, in particular, that could have an impact on next year's cost-of-living adjustment (COLA).Image source: Getty Images.Continue reading
Donald Trump had no shortage of promises throughout his campaign. He vowed to end the federal income tax on Social Security benefits, for example, as well as eliminate tax on overtime pay and tips.
While these laws have not been enacted yet (and Trump would need congressional approval to pass any sweeping tax laws), there are other ways he could influence Social Security in more indirect ways. There are two moves, in particular, that could have an impact on next year's cost-of-living adjustment (COLA).
Image source: Getty Images.
