Trump plans call for cutting Social Security benefits by 33%, watchdog warns

Although both Trump and Kamala Harris have pledged to protect Social Security benefits, they will be automatically reduced without changes to the law.

The group cited Trump’s proposals to deport illegal immigrants who now pay into Social Security, end taxes on overtime and tips, and end the taxation of Social Security benefits. All of this would reduce trust fund revenue, they said. And they said his proposals for big new tariffs would increase inflation and cost-of-living adjustments or reduce taxable payroll.

Although Trump has considerable presidential power to deport illegal immigrants and impose tariffs, any tax changes require congressional approval.

The group projected that these plans would deplete Social Security’s finances by $2.3 trillion over a decade.

Harris campaign spokesman Joseph Costello cited the report and called Trump’s agenda “an imminent threat to Social Security.”

Karoline Leavitt, a spokeswoman for the Trump campaign, dismissed the report and claimed that illegal immigrants would cause Social Security to collapse if they were allowed to remain in the United States.

“By unleashing American energy, slashing job-killing regulations, and enacting pro-growth, America First tax and trade policies, President Trump will quickly rebuild the greatest economy in history and will put Social Security on a stronger footing for generations to come,” she said. .

The watchdog group said in its analysis that Trump is unlikely to be able to close the deficit with more oil and gas drilling and faster growth.