Social Security recipients face a 24 percent cut to their monthly payments in less than a decade as the trust fund dries up, according to a new analysis from the Committee for a Responsible Federal Budget (CRFB).
The Social Security and Medicare trust funds, the group said, are just more than seven years from insolvency, with the group citing projections from the two programs’ trustees and the impact of the One Big Beautiful Bill Act that was signed into law earlier this month.
For Social Security, the group projected that retirees could see a benefit cut of 24 percent in late 2032 unless Congress acts, according to the CRFB, a think tank that describes itself as nonpartisan….