How Will Social Security Change Under the Second Trump Administration for Texans?

(KNUE-FM) - We hear newscasts and rumors about it almost every day.

Some Texans worry that social security will be eliminated entirely. Others are just curious about what changes will be made to something they've contributed to for their entire working life.

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This is particularly crucial for those seeking to retire in the not-so-distant future. Many retired people rely on those social security checks, at least as a supplement to whatever they've managed to save. If it were to be eliminated, that could be devastating.

Is President Trump planning to end social security for Texas seniors?

According to the Motley Fool, Trump repeatedly stated while campaigning that he was not going to cut Social Security benefits but instead wanted to 'protect and strengthen the program' by identifying areas of potential fraud and eliminating those. There was also discussion during Trump's campaign about eliminating taxes on Social Security benefits.

There have also been concerns regarding funding for Social Security, as it is now.

Motley Fool reports that "the number of recipients who collect benefits is growing faster than the number of workers who pay taxes to support the program. Social Security costs have exceeded revenues since 2021, and the problem is only getting worse."

Read more about that here.

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But a main takeaway, according to some experts, is that if there aren't large changes, it could mean cuts to benefits as soon as 2035.

What changes are being made to Social Security under President Trump?

Trump has already created the Department of Government Efficiency (DOGE), which claims to find and eliminate fraud and unnecessary excess. While some are concerned about DOGE's ultimate mission, this is its stated intention.

What are the major changes so far as a result of DOGE's activities? 

DOGE reports administrative expenses have been reduced, identity proofing has been fortified, and overpayments are being recovered.

Despite these efforts, some financial experts say these savings only amount to the projected $3 trillion deficit for Social Security. At least for now, Social Security has not been cut, but there's still more work to do to fund it, says Motley Fool.