The Republican Study Committee (RSC) proposed this month raising the full retirement age from 67 to 69 years old, beginning in 2026 and gradually increasing until 2033, affecting those aged 59 and under. This alerts millions of Americans who are hoping to retire with a comfortable monthly income.
Donald Trump’s DOGE, led by Elon Musk, is also considering benefit cuts for those earning more than $80,652 per year, as well as changes to the disability program. According to research, these measures have the potential to save $718 billion over the next decade.
Cuts to Social Security benefits: Who would be affected?
According to the information, beneficiaries who are already receiving payments would not be affected, but future retirees would be, with cuts and the obligation to work longer years before enjoying their well-deserved rest: some of the most affected are those in their 30s and 40s, who could see a reduction of up to $3,500 per year, increasing their risk of poverty.
According to the Center for American Progress’s (RSC) budget analysis, we faced a 13% benefit reduction for affected future retirees.
Future beneficiaries earning $80,652 or more per year in current terms and under the age of 59 are proposed to have their benefits reduced. This includes the elimination of ancillary benefits, such as spousal benefits, which are currently eligible for up to half of the primary worker’s benefit.
This is likely to have a negative impact on retired couples’ ability to maintain an adequate standard of living, particularly those with mixed incomes.
SSDI would also be affected by DOGE cuts
As if these cuts weren’t enough to fuel Elon Musk’s chainsaw, the proposals include prohibiting people over the age of 62 from applying for Social Security Disability Insurance (SSDI), reducing eligibility and benefits, and limiting access to the appeals process.
This would further restrict support for disabled workers, who rely on these benefits to meet their basic needs.
According to House Budget Committee Democrats, these measures would reduce Social Security by $718 billion over ten years, with $224 billion coming specifically from the retirement program.
Have more cuts to Social Security been proposed?
It is not the first time the GOP has proposed cuts to social programs; one of the most recent was in 2022, when Senator Rick Scott proposed that all federal programs, including Social Security, expire every five years unless Congress votes to renew them, putting the program’s stability at risk.
In the 2010s, former House Speaker Paul Ryan prioritized Social Security and Medicare reform in his budget proposals. However, not all Republicans are willing to support such initiatives. President Donald Trump, for example, stated in January 2023 that “under no circumstances should Republicans vote to cut a penny from Medicare or Social Security.”
In any case, he has given Elon Musk and his DOGE secretariat a blank check to carry out whatever cuts he deems “necessary,” which could include Social Security, Medicare, and even SNAP benefits.