Social Security

Public service workers, including some teachers, firefighters and police officers, may soon see their Social Security payments increase by hundreds of dollars monthly.

From "no tax on tips" to Social Security, Donald Trump has made a range of promises about the taxes Americans will pay. We take a look at three changes we could see in the months ahead.

Michigan Rep. Bill Huizenga, R-Mich.,, and California Rep. Scott Peters, D-Calif., say looming benefit cuts and mounting interest payments squeezing federal investments underline need for their plan.

Social Security beneficiaries will receive a 3.2% cost of living adjustment next year. Inflation has been moderating recently, with consumer prices in September up 3.7% from a year ago.

Policymakers will need to patch the Social Security program by 2033 to avoid draconian cuts in benefits, a year earlier than had been predicted. A trust fund for Medicare will run out of cash by 2031.

Retirees and others who rely on Social Security will see a large boost in benefits next year, with the average benefit rising by $141 per month, as inflation stays above 8%.

The Justice Department and Social Security Administration have dropped their appeals of a ruling that overturned a requirement that couples must be wed for nine months before qualifying.

The new projections in the annual Social Security and Medicare trustees reports indicate that the program will be unable to pay full benefits in 2034. Last year's estimated exhaustion date was 2035.

President Trump has directed the Treasury Department to stop collecting payroll taxes this fall in an effort to boost workers' paychecks. But the move is temporary, and could spark headaches in 2021.

The budget deal might be a political win, but is it good policy? Check out what's in it.