Social Security currently faces a funding crisis that would see benefits slashed by roughly 20 percent by as early as 2035.
Now that Donald Trump has won the presidential election, Americans are watching to see how he deals with many economic, foreign and domestic issues.One chief concern throughout the election campaign has been Social Security, which currently faces a funding crisis that would see benefits slashed by roughly 20 percent by as early as 2035.Trump has been vocal in his pledge not to cut any Social Security benefits once he becomes president.
The funding crisis could be worsened by Trump's calls to end taxes on Social Security benefits, causing the SSA trust fund to get even smaller. Additionally, Trump promised voters he would stop taxing tips, implement tariffs and deport more undocumented immigrants, all of which could lead to less money going into Social Security's funding.
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