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Larson: Trump’s Attempt to Defund Social Security is Unworkable and Will End in Double Taxation

August 29, 2020
Press Release

Hartford, CT - House Ways and Means Social Security Subcommittee Chairman John B. Larson (CT-01) released the following statement in response to the U.S. Treasury Department’s guidance to defer collection of the dedicated funding source for Social Security:

“President Trump has stated that he intends to defund Social Security. Now the details are out and it’s clear this plan is unworkable and will result in double taxation for the vast majority of Americans who receive a paycheck. Ending the collection of Social Security’s dedicated funding source is the first step in dismantling the program.  This poorly thought out plan designed to boost the President’s political standing will only result in a headache for employers and employees. President Trump should abandon it immediately.”