Trump's plan could benefit seniors but threaten Social Security

President Donald Trump has proposed a plan to eliminate taxes on Social Security benefits for seniors. This change aims to relieve financial pressure on retirees, potentially saving them over $3,000 annually. Currently, up to 85% of benefits can be taxed based on income levels. However, concerns arise that removing this tax could hasten the depletion of Social Security's trust funds. The program has been spending more than it earns since 2021, and the trust funds are projected to run out by 2035. Eliminating the tax could accelerate this timeline. The proposal is under consideration in the House, but its impact on Social Security's long-term viability remains uncertain. Congress will need to balance the benefits for seniors with the program's financial stability when deciding on the bill.