Nancy Altman, president of Social Security Works, released a statement criticizing former President Donald Trump's policies for weakening Social Security's financial position. The 2026 Social Security Trustees Report marks the first official assessment to account for Trump's second-term agenda, Altman said.
Altman identified four specific policy areas she argues have reduced revenue flowing into Social Security. These include a tax bill that favored wealthy Americans, tariffs on imports that she characterized as economy-wrecking, military escalation with Iran, and restrictive immigration policies. All four, she contends, have decreased payroll tax contributions that fund the program.
The statement from Altman's organization reflects the progressive critique of Trump's economic policies. Social Security Works advocates for expanding the program rather than cutting benefits. The group positions itself against proposals to reduce Social Security payments or raise the retirement age.
Altman's framing highlights a partisan divide over Social Security's future. Republicans have generally backed benefit reductions or means-testing to address long-term solvency challenges. Democrats and progressive groups like Social Security Works oppose benefit cuts and instead push for higher payroll tax contributions from wealthy earners.
The timing of Altman's statement coincides with ongoing national debate over Social Security's finances. The program faces a trust fund depletion date projected for 2034, after which it would collect only enough in payroll taxes to pay roughly 80 percent of scheduled benefits without legislative action.
Altman's statement asserts that Social Security "remains fully affordable if the wealthy are" taxed appropriately, though the provided text cuts off her complete solution. This reflects the standard progressive argument that raising or eliminating the payroll tax cap currently set at $168,600 in annual income could extend solvency without benefit reductions.
The 2026 trustees report provides data on how current policies affect the program's long