Social Security and the blue wave: What could happen to payroll taxes and senior tax breaks
A CNBC article examines what Democrats' midterm sweep could mean for Social Security, as Congress has six years to act before benefit cuts and candidates split over raising the payroll tax cap on high earners versus extending the $6,000 senior tax deduction. Experts suggest lawmakers may not act until closer to the trust fund's projected 2032 depletion, when only 78% of benefits would be payable.
