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Pelosi: Cutting Payroll Tax Would Devastate Social Security Fund

Pelosi: Cutting Payroll Tax Would Devastate Social Security Fund
House Speaker Nancy Pelosi (D-Calif.) speaks during a press conference before the vote on the 'Delivering for America Act' to protect the postal system, on Capitol Hill in Washington, on Aug. 22, 2020. Andrew Caballero-Reynolds/AFP via Getty Images
Masooma Haq
|Updated:

House Speaker Nancy Pelosi (D-Calif.) warned that if President Donald Trump is allowed to end the payroll tax, the Social Security Disability Insurance Trust Fund would be expended by 2021 and the Social Security Old Age Survivors Insurance Fund would be exhausted by 2023.

Pelosi said in a statement Monday that the Social Security Administration chief actuary analysis shows the potential devastating effects of ending the payroll tax, which the president has suggested.

Masooma Haq
Masooma Haq
Author
Masooma Haq began reporting for The Epoch Times from Pakistan in 2008. She currently covers a variety of topics including U.S. government, culture, and entertainment.
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