Trump's Coronavirus Stimulus Plan Would Reduce Social Security Funding When It Needs It the Most
As lawmakers discuss the possibility of a new round of coronavirus aid, there's one item on President Donald Trump's wish list that could do incredible damage to Social Security: a payroll tax cut.
Social Security is already in financial trouble, and the COVID-19 pandemic is likely to damage its finances further. If President Trump gets a payroll tax cut put through, the effects for retirees and the disabled could be devastating.
Payroll taxes are collected from your paycheck for Social Security and Medicare.
Source Fool.com