{"database": "press", "table": "releases", "rows": [["https://larson.house.gov/media-center/press-releases/expand-social-security-caucus-house-co-chairs-statement-trumps-social", "Expand Social Security Caucus House Co-Chairs Statement on Trump\u2019s Social Security Policies", "2024-10-23", "2024", "2024-10", "Democrat", "House", "CT", "John B. Larson", "L000557", "larson.house.gov", "larson", "https://larson.house.gov/media-center/press-releases", "scraper", "East Hartford, CT - This week, the Committee for a Responsible Federal Budget (CRFB), a non-profit, non-partisan organization, released a new report detailing how former President Donald Trump\u2019s proposed policies, if enacted, would render Social Security insolvent in six years. Expand Social Security Caucus House Co-Chairs Reps. John B. Larson (CT-01), Ra\u00fal Grijalva (AZ-07), and Debbie Dingell (MI-06) released the following statement:\n\n\u201cSocial Security is a cornerstone of economic stability for millions of Americans, providing essential financial support to retirees, disabled individuals, and survivors of deceased workers. Trump\u2019s proposed policies are a non-starter. If implemented, they would eliminate revenue streams used to help finance Social Security and accelerate the depletion of Social Security funding. We will fight back against any attempts to weaken Social Security and stop Trump\u2019s policies that would cause devastating, irrevocable damage to an institution that millions of Americans depend on.\u201d\n\n\u201cMaintaining the solvency of Social Security is vital for promoting economic security, and a moral obligation to honor the commitments made to those who have contributed to the system throughout their working lives. To safeguard the future of Social Security, we cannot allow for Trump\u2019s policies to gut these hard-earned benefits and instead must engage in a simple reform like the Social Security 2100 Act that fixes insolvency by having the wealthy pay into the system the same as everyone else.\u201d\n\nAccording to CRFB\u2019s new report, If President Trump\u2019s agenda were enacted in full it would shrink Social Security solvency by one-third, to only six years.\n\nProposals from President Trump that would weaken Social Security\u2019s finances include:\n\nEnding taxation of Social Security benefits, which would eliminate a revenue stream currently used to help finance Social Security.\n\nEnding all taxes on overtime pay and tips, which would reduce payroll tax collection accruing to the Social Security trust funds.\n\nImposing large tariffs on imports, which would either increase cost-of-living adjustments (COLAs) through higher inflation or reduce taxable payroll.\n\nEnhancing border security and deporting unauthorized immigrants, which would reduce the number of immigrant workers paying into the Social Security trust funds.\n\nPresident Trump\u2019s proposals to eliminate taxation of Social Security benefits, end taxes on tips and overtime, impose tariffs, and expand deportations would all widen Social Security\u2019s cash deficits. Under CRFB\u2019s central estimate, they find that President Trump\u2019s agenda would:\n\nIncrease Social Security\u2019s ten-year cash shortfall by $2.3 trillion through FY 2035.\n\nAdvance insolvency by three years, from FY 2034 to FY 2031 \u2013 hastening the next President\u2019s insolvency timeline by one-third.\n\nLead to a 33 percent across-the-board benefit cut in 2035, up from the 23 percent CBO projects under current law.\n\nIncrease Social Security\u2019s annual shortfall by roughly 50 percent in FY 2035, from 3.6 to 4 percent of payroll.\n\nRequire the equivalent of reducing current law benefits by about one-third or increasing revenue by about one-half to restore 75-year solvency.", 1, "2026-03-30T01:40:41Z", "2026-04-07T21:57:20Z"]], "columns": ["url", "title", "date", "year", "month", "party", "chamber", "state", "member_name", "bioguide_id", "domain", "scraper", "source", "date_source", "text", "has_text", "collected_at", "updated_at"], "primary_keys": ["url"], "primary_key_values": ["https://larson.house.gov/media-center/press-releases/expand-social-security-caucus-house-co-chairs-statement-trumps-social"], "units": {}, "query_ms": 1.7037051729857922, "source": "dwillis/congress-press", "source_url": "https://github.com/dwillis/congress-press", "license": "MIT", "license_url": "https://github.com/dwillis/congress-press/blob/main/LICENSE"}