by Louis Casiano at Fox Business
Former President Trump on Monday promised to halt taxes on Social Security benefits in an effort to help many senior citizens.
On Truth Social, Trump posted a video saying inflation under the Biden administration has hurt seniors.
“To help seniors on fixed incomes who are suffering the ravages of Comrade Kamala Harris’ inflation nightmare — I’m promising NO TAX on SOCIAL SECURITY BENEFITS!” he wrote on X.
US NATIONAL DEBT TO SURGE TO RECORD LEVELS WITHOUT REFORM, RAISING PROSPECT OF DEBT CRISIS
Former President Donald Trump on Monday promised to end taxes on social security benefits in an effort to help seniors on fixed incomes. (Photographer: Yuki Iwamura/Bloomberg via Getty Images / Getty Images)
In a video that accompanied the post, Trump said nearly half of all seniors pay taxes on Social Security and that they had been “hit very, very, hard” because of inflation.
“I will always protect Social Security as I did just four years ago,” he said. “Our great senior citizens will be happy and they will be safe. And they will be getting their money from Medicare and Social Security.”
A recent report from the nonpartisan Committee for a Responsible Federal Budget (CRFB) noted that Social Security recipients face a 21% cut when a crucial trust fund that’s on pace to be depleted in 2033 runs dry. The report said Social Security was paying more in benefits than it was currently receiving in payroll taxes.
Trump has promised to end taxes on Social Security before…
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