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Story summary
- U.S. President Donald Trump signed the “Big, Beautiful Bill” in July 2025, a tax package that will cut Social Security funding by $168.6 billion over ten years.
- The 2025 Trustees Report says the Old-Age and Survivors Insurance trust fund will be exhausted by 2033, with the Actuary projecting depletion as early as Q4 2032 because of its tax effects.
- Depletion could force benefit cuts of up to 23% to keep the program solvent.
