The Stealthy Way Republicans Could Reduce Social Security Benefits by $465 a Year

Sean Williams, The Motley Fool
·5 min read
The Stealthy Way Republicans Could Reduce Social Security Benefits by $465 a Year
The Stealthy Way Republicans Could Reduce Social Security Benefits by $465 a Year

Today, nearly 65 million people receive a Social Security benefit each month, and more than 46 million of them are retired workers. For many retirees, Social Security plays a critical role in providing a financial foundation and ensuring they can make ends meet. Think of COLA as the payout increase passed along to the program's recipients each year that's designed to true-up benefits with inflation (i.e., the rising cost of goods and services).