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Are individuals on social security impacted if the payroll tax cut expires? Do these individuals receive more social security income?


The BIDaWIZ Team's Answer:

The short answer is no. The Social Security Trust Fund has enough funds to pay out social security workers. In addition, during the period that the payroll tax cut is in place, the General Fund of the government will transfer the foregone revenue dollar for dollar back to the Trust Fund. Thus, there will be no impact on to the Social Security Trust Fund.

The BIDaWIZ Team



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