Obama Payroll Tax Cuts Seen Undermining Social Security

Obama Payroll Tax Cuts Seen Undermining Social Security

NEW YORK — Some Democratic lawmakers say that, while President Barack Obama’s plan to cut payroll taxes may strengthen the U.S. economy, it may have some unintended fallout: weakening Social Security.

The lawmakers and advocacy groups say they are concerned the tax cuts may undermine political support for the retirement program, which provides benefits to almost 55 million Americans and is funded by the payroll levies.

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