How will Trump's second term impact Social Security?
For the second time, Donald Trump will be president of the United States. What will that mean for Social Security?
The former and future president could impact the program in a number of ways. Most directly, he could propose legislation to change or make cuts to benefits. That’s something Trump has said he’ll never do, and even if he did, he would need Congress’ approval — but that doesn’t make it impossible.
“I am very highly concerned about it,” said Mary Johnson, a retired Social Security analyst formerly at the advocacy group The Senior Citizens League. “Right now, I think it’s really going to come down to the makeup of Congress.”
But there are also other, more indirect ways Trump’s leadership could affect Social Security. Even unrelated policies, including those on immigration, could reduce tax revenue for the program. But how the new administration would cope with such shortfalls is not yet clear.
READ MORE: Donald Trump will shape these 9 areas of wealth management
“During campaigns, you don’t get significant specifics,” said Ron Mastrogiovanni, president of the cost-projecting software company HealthView Services. “None of the people running for office give us a detailed plan.”
In lieu of such details, the strongest clues can be found in Trump’s campaign rhetoric and his past behavior as president. Here’s a closer look at the changes he might bring to America’s largest social program.