
New Tax Law Impact: Social Security, Debt, and Overtime
A new tax law impacts Social Security solvency, adds trillions to the national debt, and changes overtime deductions. It affects various income levels and social programs.
A new tax law impacts Social Security solvency, adds trillions to the national debt, and changes overtime deductions. It affects various income levels and social programs.
Analyses project the spending bill, featuring tax cuts, will significantly increase the federal deficit by $3-4 trillion over the next decade, despite claims of $1.6 trillion in savings from spending cuts. The bill's impact remains a moving target.