From eliminating taxes on benefits to major staffing cuts at the Social Security Administration, President Donald Trump’s proposals could impact the benefits you’ve earned. In 2025, you might see some relief if Social Security benefits become tax-free, but that short-term gain could come with long-term consequences.

President Donald Trump told supporters at a campaign rally, "As president, I will not cut one penny from Social Security or Medicare." He made a virtually identical statement in July 2024 on social media.

Key Points President Trump has pledged not to cut Social Security. He’s also looking to help seniors keep more of their benefits. Trump will have to intervene to prevent Social Security from broadly reducing benefits.

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Since 1940, the Social Security Board of Trustees has released an annual report that intricately details how the program generates income and where every dollar of its outlays (i.e., benefits and, to a lesser extent, administrative expenses) is directed.

The exact amount of money that President Trump has to his name is a bit of a mystery. That’s because Trump is the only president in years not to make his federal tax returns public. However, some of Trump’s tax data was eventually released,

Once upon a time, Donald Trump endeared himself to millions of working-class voters by telling them he, unlike the rest of the Republican Party, would do “everything within my power not to touch Social Security,