Will Republicans Cut Social Security? All the GOP Proposals and Ideas

Former Republican President Donald Trump, who is running for president, once again warned his party not to cut Social Security.

“Under no circumstances should Republicans vote to cut Medicare or Social Security by a penny,” President Trump said on the Truth Social platform in January.

Social Security was an issue among the candidates during Wednesday’s Republican presidential primary debate.

In response to a question from NBC News host Kristen Welker, he pointed out that in about 10 years, Americans could see their Social Security system run out of funds and their Social Security benefits drastically cut. Former New Jersey Governor Chris Christie has suggested raising the retirement age. The wealthy should not be allowed to receive benefits.

nikki haley

Meanwhile, former United Nations Ambassador Nikki Haley said dealing with the program was a “critical” part of running for president.

“Social Security will be bankrupt in 10 years,” she says.

Haley suggested that promises made to the current generation of retirees should be kept. But the former South Carolina governor said the retirement age should be raised for the benefit of his children in their 20s.

Current policy says people can start collecting benefits when they reach age 62, but the rate is lower than after reaching the retirement age of 67. The government agency serves about 70 million Americans who rely on benefits. The total amount in 2023 reached $ 1.4 trillion. A Social Security Administration report in March suggested that reserves will be depleted by 2034.

“Raises should be based on inflation, not cost-of-living increases,” Haley said, adding that benefits should be limited to the wealthy. Mr. Haley declined to provide a new age at which candidates would be eligible for benefits under his own plan, suggesting it would be correlated with life expectancy.

Former Maryland Gov. Martin O’Malley, the new candidate to lead the agency, said last week that he believes his role is to provide policymakers with the best information to address the fund’s failures. said.

Tim Scott

Current South Carolina Sen. Tim Scott suggested that growing the economy and cutting spending could generate revenue that could be added to the Social Security fund. When asked if he would raise the retirement age, he answered “no”.

Ron DeSantis

Florida Gov. Ron DeSantis alluded to the fact that his state’s popularity with retirees made him realize how important the issue was to his district.

“My grandmother lived to be 91 years old, and Social Security was her only source of income, and that’s true for many older people as well,” he said. He indicated not to raise his retirement age.

None of the candidates said they would cut the program.

mike johnson

New Republican Chairman Mike Johnson, a Louisiana native who served as chairman of the 176-member Republican Study Committee (RSC) from 2019 to 2021, has proposed a budget that has drawn criticism from critics. They say this will lead to cuts in the proposed budget. newsweek reported.

In June, the group proposed social security reforms that would include raising the retirement age to 69 for retirees who turn 62 by 2033, according to media reports. Bloomberg.

newsweek Johnson’s office was contacted for comment via email.

Mitch McConnell

Earlier this year, Republican Senate Minority Leader Mitch McConnell distanced himself from Florida Sen. Rick Scott, who was accused by Democrats of suggesting he wanted to abolish Social Security and other entitlement programs, according to reports. That’s what it means. bloomberg. Scott denied that was his plan.

Mr. McConnell has in the past proposed reforming entitlement programs, including Social Security. newsweek Reported in 2018.

newsweek Sen. McConnell’s office was contacted for comment via email.