Donald Trump spent much of his presidential campaign pledging to implement tariffs. And he clearly made good on that promise.
But another promise Trump made related to Social Security.
Specifically, Trump pledged that benefits would not be cut. He also promised that he would not make changes to the program’s full retirement age (FRA), and that he would put an end to federal taxes on Social Security benefits.
Let’s see how well those promises are holding up going into 2026.
No benefit cuts
President Trump has certainly taken no action to cut Social Security benefits. But that doesn’t mean the program isn’t facing cuts in the future.
The Social Security Trustees reported earlier this year that the program’s combined trust funds are set to run dry by 2034. At that point, Social Security may have to cut benefits unless lawmakers are able to intervene.
That insolvency date is not so far off. So while Trump certainly has not cut Social Security, he also has not taken many steps to avoid future Social Security cuts.
And at this point, time is running out. Though benefit cuts are not on the table in 2026, if action isn’t taken soon, they may inevitable.
No changes to full retirement age (FRA)
FRA for Social Security is based on people’s respective birth years. No changes have been made under Trump’s administration to FRA. For those born in 1960 or later, FRA remains 67 — for now.
That’s not going to change in 2026. But it could change in future years.
Lawmakers need to do something to prevent Social Security from cutting benefits. One option is to push back FRA for younger workers to 68 or 69, thereby taking some of the pressure off the program’s financial obligations.
Some argue that this solution is reasonable because it doesn’t increase taxes and it also reflects longer life expectancies. But it’s also a highly unpopular strategy, since it could effectively force millions of Americans to work longer to be able to claim their Social Security benefits in full.
Roundabout changes to Social Security taxes
Trump was firm in that he really wanted to get rid of federal taxes on Social Security benefits. And he sort of did that, albeit indirectly.
Under the One Big Beautiful Bill Act, certain seniors are eligible for a $6,000 bonus deduction that effectively gets them out of paying taxes on Social Security benefits. But Trump did not actually repeal taxes on Social Security. He simply created another tax break for seniors that allows them to avoid those taxes if the stars align.
The White House says that about 88% of seniors will end up paying no federal taxes on their Social Security benefits because of the new bonus deduction — up from roughly 64% before the bill was introduced. While that’s an improvement, it doesn’t mean Trump accomplished what he said he was going to do.
A decent grade for effort
All told, Trump may have had good intentions with regard to Social Security. But did he keep his promises? Sort of.
He did not cut benefits to the program, and he made no changes to FRA. He sort of eliminated taxes on benefits, but not directly, and not for everyone. It would be fair to call that a partial promise kept.
Top Gaining Stocks
Top Losing Stocks