Former President Donald Trump’s proposals, including eliminating taxes on Social Security benefits, tips, and overtime, as well as imposing tariffs and expanding deportations, would significantly worsen Social Security’s finances, according to the Committee for a Responsible Federal Budget. The committee reports that these plans would increase Social Security’s ten-year cash shortfall by $2.3 trillion and deplete trust funds by 2031, three years earlier than current estimates. Trump’s proposals would necessitate a 33% cut in benefits by 2035, disproportionately affecting low-income earners. The report also notes that Trump’s economic plans could lead to higher inflation compared to those of Harris.