John,

Last Friday, Donald Trump once again called for a “payroll tax cut” at a press conference.

With racial justice protests sweeping the nation, and the pandemic that has killed more than 110,000 Americans, Trump is desperate to change the subject―but he doesn’t have any new ideas.

What he calls the “payroll tax cut” is code for cutting FICA, through which working Americans and our employers pay into our Social Security system. When you combine Trump’s attacks with Mitt Romney’s TRUST Act―which is gathering support among Wall Street’s favorite members of Congress―it sets up a dangerous trap for Social Security and Medicare.

Step 1: Defund Social Security and Medicare.
By eliminating Social Security and Medicare’s dedicated funding (payroll contributions), Trump could force both programs to tap into their trust funds prematurely. No one would miss their checks, but both programs would face financial challenges quickly.

Step 2: Destroy Social Security and Medicare with closed door commissions.
This is where the TRUST Act comes in. Romney’s plan would automatically convene unelected commissions to decide behind closed doors what to do about budget shortfalls for programs like Social Security and Medicare. We’ve fought back and won against such commissions in the past. And together, we will win this time!

The truth is, if wealthy Americans like Romney and Trump paid their fair share, we could afford to EXPAND Social Security benefits. That idea is popular―which is why Romney and others are calling for these commissions to meet behind closed doors.

Social Security Works is organizing through these trying times to STOP this dangerous two-step proposal. Chip in $7 to protect seniors from Republicans!

Wall Street has spent decades fantasizing about destroying Social Security, but the American people have banded together to stop them every time. Now, with Americans unemployed and mobilized for racial justice, Wall Street’s allies in Washington are mobilizing, hoping that we’re not paying attention.

But we won’t let them sneak through devastating cuts to Social Security and Medicare in the midst of racial justice uprisings and a global pandemic. Social Security Works is laser-focused on protecting and expanding our earned benefits. We won’t let Wall Street take advantage of Trump’s chaos to destroy our cherished economic security.

Chip in today to fight back!

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Thanks,

Michael Phelan
Social Security Works