Donald Trump's "One Big, Beautiful Bill" Will Speed Up the Timeline to Social Security Benefit Cuts, New Analysis Finds [View all]

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For most aging Americans, Social Security income isn't a luxury -- it's a necessary payout that ensures a stable financial foundation.

For 24 years, Gallup has been surveying retirees to gauge their reliance on the income they receive from Social Security. Every year, 80% to 90% of respondents have noted their payout represents a "major" or "minor" income source. In other words, it's a necessity, in some capacity, to cover their expenses.

Ideally, elected lawmakers -- which include President Donald Trump -- should be doing everything in their power to ensure the long-term financial stability of Social Security. But based on the latest update from the Social Security Board of Trustees, that's not happening.

Worse yet, President Trump's flagship tax and spending law, the "big, beautiful bill," is expected to speed up the timeline to across-the-board Social Security benefit cuts, according to a new analysis.

https://www.msn.com/en-us/money/retirement/president-donald-trump-s-one-big-beautiful-bill-will-speed-up-the-timeline-to-social-security-benefit-cuts-new-analysis-finds/ar-AA1KFlsr