Are seniors getting reduced Social Security or a tax break?

SSA’s 2025 Social Security Trustees Report found that the program cost $1.485 trillion in 2024 but only brought in $1.418 trillion, resulting in a $67 billion deficit for the year.

According to the same report, the Old-Age and Survivors Insurance (OASI) trust fund could be depleted by 2033, at which point Social Security would only be able to pay 77% of its expected benefits.

Although the Trump administration is overseeing recent Social Security changes, the overpayment recovery effort began under former President Joe Biden after the agency conducted a review. In 2023, the SSA said it would withhold 10% of future benefits to recoup overpayments.

But in March 2025, the agency said it would start withholding 100% of benefits until debts were repaid, sparking public outcry….