If you are one of the 63 million Americans currently receiving Social Security benefits, you’ll want to read on. (Some 54 million retired workers and 9 million of their survivors and dependents currently get a monthly check.)
Before we get started, some facts to keep in mind: The Social Security Administration (SSA) is an independent agency of the federal government. Currently led by Commissioner Frank Bisignano, the original “proponents of SSA’s independence wanted to insulate it from everyday political, fiscal, and operational policy decisions of the government.” That’s according to the agency itself.
Now for the news: Senate Democrats say a July 2 Social Security email to millions of retirees from Bisignano falsely credits Republican lawmakers and President Trump’s One Big Beautiful Bill Act (OBBBA) for giving older Americans tax credits.
The group of Democrats, including Senator Elizabeth Warren of Massachusetts, Sen. Ron Wyden of Oregon, Sen. Tammy Baldwin of Wisconsin, Sen. Sheldon Whitehouse of Rhode Island, and Sen. Ben Ray Luján of New Mexico, say the email contains “a politicized message” and “misleading information.”
“Thanks to President Trump, over 35 million American seniors received an average of $7,500 in relief this tax season,” the email reads, with the subject line, “Making Life More Affordable for America’s Seniors.”
“President Donald J. Trump and the Trump Administration are not only protecting Social Security, but we are providing meaningful and immediate relief to older Americans,” the email continues.
However, critics, such as MS NOW, say the president didn’t exactly eliminate Social Security benefit taxes.
Fast Company has reached out to the Social Security Administration for comment.
What we do know is that Social Security is facing insolvency. As Fast Company has previously reported, the program’s retirement trust fund is estimated to run out of money in about seven years. One proposed solution is to limit payouts at $100,000 a year for couples as part of an overall plan to save it from insolvency, according to the Center on Budget and Policy Priorities (CBPP). (That amounts to $50,000 for single retirees.)
At the same time, the SSA cut over 8,000 workers, or 13% to 14% of its staff, in the last year, including over 3,800 customer service representatives, leaving the agency with “fewer employees than at any time since 1967,” according to the Center on Budget and Policy Priorities (CBPP).
