Key Points
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As President Trump said, “I’ve said it so many times that you shouldn’t even be asking me that question… We’re not going to touch it. Now, we are going to look for fraud.”
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However, there are two likely changes you may want to pay close attention to.
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In 2024, President Trump said he would not cut Social Security or Medicare.
In fact, he specifically stated, “I will not cut one penny from Social Security or Medicare, and I will not raise the retirement age by one day.”
So far, he hasn’t gone back on his word.
The only thing President Trump and the Department of Government Efficiency (DOGE) are cutting are some of the sky-high Social Security costs. In fact, the Social Security Administration has already reduced its staffing target to 50,000 from its current level of 57,000. The SSA also identified cost savings in contracts, grants, property and technology.
Savings from those cuts is expected to reach $800 million this year.
In addition, as noted on The White House site: The Social Security Administration made an estimated $72 billion in improper payments between 2015 and 2022. By eliminating improper payments like those, DOGE is moving to eliminate the fraud and waste.
However, there are some likely changes you should be aware of.
President Trump Wants to Cut Taxes on Social Security
The President also wants to cut taxes on Social Security, noting that “Seniors should not pay tax on Social Security.” The White House and Congressman Thomas Massie (R-KY) recently introduced legislation that could eliminate this tax.
According to a press statement from Massie, if passed, the Senior Citizens Tax Elimination Act (HR 1040) will amend the Internal Revenue Code of 1986 to terminate the inclusion of tier I railroad retirement benefits and Social Security benefits in an individual’s gross income, as reported by MyFederalRetirement.com.
Social Security Will End Over-the-Phone ID Services
According to Newsweek, “From April 14, many claimants will no longer have the option to verify their identity with the SSA over the phone when making claims or changing direct deposit information. It means that beneficiaries—excluding Social Security Disability Insurance, Medicare, and Supplemental Security Income—who cannot verify their identity using the SSA’s online portal will be required to travel to a field office to complete the process in person.”
In short, no. President Trump is not cutting your Social Security benefits.
As the President has said, “I’ve said it so many times that you shouldn’t even be asking me that question… We’re not going to touch it. Now, we are going to look for fraud.”
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