A rise in the retirement age together with the privatizing of Social Security are two of the main impacts the Republican Project 2025 would have on Social Security.
Project 2025, a radical new vision for government drawn up a conservative think tank called the Heritage Foundation, plans for a number of changes to Social Security benefits and payments.
“The Mandate for Leadership, the Conservative Promise” which was published in 2023 is the “How-to” guide for the next conservative president laid out by the Project 2025 initiatives. Note that Trump was not involved in drawing up the Project 2025, nor has he officially endorsed it. However the former president has said that he agrees with many of the views of the Heritage Foundation.
The think tank has also advocated for other changes to Social Security, such as a shift to a flat benefit and ending “double-dipping” between Social Security Disability Insurance (SSDI) benefits and unemployment benefits.
Additionally, there are calls to gradually increase the normal retirement age and consider privatizing the program through personal investment accounts.
Will Trump’s Project 2025 affect Social Security benefits and payments?
Project 2025, intended for the next Republican president, is gaining attention because of its recommendations to reform the federal government.
In recent weeks, President Biden and Democrats have referred to Project 2025 in critical terms as they aim to emphasize the potential impact if former President Donald Trump wins the election in November and returns to the White House in January. Many of the proposals in the guide address economic issues that could affect millions of Americans, as well as social topics. However, there are no proposals to eliminate Social Security benefits.
Trump, in the early 2000s, was documented saying that the Social Security system requires restructuring and budget reductions but in recent years, he has said that he will use all available means to ensure that Social Security remains untouched and unchanged. On his campaign website, Trump pledges to safeguard Social Security and asserts that he will not reduce benefits or make any other modifications to the program if reelected.
The Project 2025 plan does not propose to eliminate Social Security benefits entirely. But, the group behind the plan, the Heritage Foundation, has suggested changes to Social Security, including raising the retirement age. The initiative is outlined in a guide for the next conservative president called the “Mandate for Leadership: The Conservative Promise,” published in 2023.
Measures that might affect Social Security benefits and payments
The Heritage Foundation has recommended changes to the program separately from Project 2025. For example, they have suggested raising the retirement age from 67 to 69 or 70 and linking it to life expectancy.
The Heritage Foundation has also proposed other changes, such as transitioning Social Security to a flat benefit and stopping the overlapping claims for Social Security Disability Insurance (SSDI) and unemployment benefits.
One of the co-authors of Project 2025, Stephen Moore, has previously advocated for privatizing Social Security during a talk hosted by Young America’s Foundation in 2018.
The Project 2025 initiative does not propose the elimination of Social Security benefits and payment. However, policies related to Social Security can be influenced by presidential administrations through legislation and budget decisions.
