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At the start of 2024, seniors on Social Security saw their benefits rise 3.2%. This year's cost-of-living adjustment, or COLA, pales in comparison to the 8.7% COLA that Social Security recipients ...
As the Social Security Old Age and Survivors Insurance Trust (OASI) faces depletion by 2033, President Joe Biden has suggested to bolster funds in the trust and help fill the $22.4 trillion ...
The increase would be an average of $1,190 for 390,000 or surviving spouses getting a widow or widower benefit. Those amounts would increase over time with Social Security’s regular cost-of-living adjustments. The change is to payments from January 2024 and beyond, meaning the Social Security Administration would owe back-dated payments.
With many Americans reliant on Social Security income, the future solvency of the program is top of mind for many voters. President Joe Biden has promised that he will "always protect -- and...
With the 2024 Social Security cost-of-living adjustment (COLA) poised to fall 5% or more from the 2023 level, it might be a good time to revisit a tweet the Biden administration made late last year...
As of 2024, earnings above $168,600 are exempt from Social Security’s 6.2% payroll tax. If all wages were taxed at the same rate, it could provide a major influx of funds to Social Security.
For years, President Joe Biden has delivered the same message on Social Security: He aims to strengthen the program while also avoiding benefit cuts, mainly by having wealthy Americans pay more in...
Raising the payroll tax cap could generate up to $1 trillion over 10 years, but Social Security faces a $2.8 trillion deficit.