Trump vs. Biden: Will the 2020 Election Lead to Changes to Social Security?
On Tuesday, Nov. 3, citizens across the United States will vote to determine who sits in the Oval Office for the next four years. The decision will shape many things about American life-- and with Social Security slated to face impending financial shortfalls, there's a chance the outcome could determine the fate of this important entitlement program.
President Trump and Joe Biden have some very different ideas on what should happen to Social Security. Mr. Biden is promising to expand benefits and assess additional payroll taxes on high earners, while President Trump has pledged to cut the payroll tax, which would mean Social Security loses its dedicated funding stream.
Since the candidates have such divergent ideas, the big question is: What's likely to happen to Social Security after the election? While no one has a crystal ball to predict the future, there's one outcome that's most likely to occur.
Source Fool.com
