The Social Security Old-Age and Survivors Insurance (OASI) Trust Fund pays retirement, spousal, and survivors benefits. Before President Biden signed the Social Security Fairness Act into law, the OASI Trust Fund was expected to be insolvent by 2033, at which point only 79% of scheduled benefits would have been payable.
With the clock is ticking on the Social Security Trust Fund, Reps. George Latimer and Mike Lawler say more time is needed to study the options.
The nonpartisan Congressional Budget Office released its latest 10-year budget outlook, which projected the U.S. is on track to break a notable debt record in just four years.
The Congressional Budget Office (CBO) projected on Friday that the federal budget deficit would hit $1.9 trillion in fiscal year 2025. The nonpartisan budget scorekeeper estimated that federal
Teachers, firefighters, police and others who earn a separate pension for government work will now get their full Social Security benefits.
President-elect Donald Trump's plans to protect Social Security benefits could give retirees more money in their pockets, but it could also deplete the program's funds more quickly over the long term.
Republicans on the House Budget Committee are considering more than 200 potential budget cuts, tax breaks, tariffs and changes to programs like Medicare and Social Security in preparation for
Undocumented workers often pay taxes that help fund programs like Social Security — even if they can’t collect from them in the future.
New law means police officers, teachers and others with public pensions will now collect their full Social Security benefits.
About 400,000 California Social Security recipients should be eligible for new Social Security benefits — retroactive to December 2023 — under legislation signed into law this week by President Joe Biden.
The Social Security Fairness Act eliminates two provisions that reduced Social Security benefits for some retirees who also received pension income.
The national debt is slated to rise by $23.9 trillion over the next decade, a sum that does not include trillions of dollars in additional tax cuts being championed by President-elect Donald Trump. The nonpartisan Congressional Budget Office released its 10-year budget outlook on Friday that showed a slightly brighter picture as higher taxable incomes will relieve some pressure on the rising national debt.