Though Social Security is in no danger of bankruptcy or halting payments, the existing payout schedule for retired workers and survivor beneficiaries may be meaningfully altered in eight years. Reforming Social Security is easier said than done.

The Committee for a Responsible Federal Budget estimates the expanded senior deduction, along with other tax cuts, could cost $30 billion annually. This might accelerate the depletion of the Social Security Old-Age and Survivors Insurance Trust Fund from early 2033 to late 2032.

Social Security recipients across the U.S. will be seeing reduced July 2025 payments. Here’s who is affected, why it’s happening, and how to appeal.