Tariffs to Taxes: How President Donald Trump's Policies Could Impact Your Social Security Benefits
This administration's policies will have direct and indirect effects on Social Security and your retirement budget.
One of the top issues during Donald Trump's 2024 U.S. Presidential campaign was Social Security. He promised to protect the benefits program for seniors. He said eliminating waste and fraud throughout Social Security, Medicare, and Medicaid will strengthen the program.
Many seniors, however, are worried about the longevity of Social Security. As things stand, the Social Security trust fund is set to run out of money in 2033. At that point, the trustees estimate the program will only have enough revenue to pay out 79% of benefits due to seniors.
While enacting legislation directly targeting that shortfall will require cooperation within Congress, President Trump is taking several actions that will impact Social Security indirectly. Meanwhile, his largest proposed change to Social Security could have a notable impact on seniors' monthly checks.
