Where do Harris and Trump stand? • Iowa Capital Dispatch

WASHINGTON — The presidential debate in early September included just one mention of Social Security and three references to Medicare, making the safety net programs a tiny part of the political discussion despite their importance to tens of millions of Americans.

Democratic nominee Kamala Harris and Republican nominee Donald Trump have both mentioned the programs multiple times during their appearances, although neither campaign has attempted to highlight the two programs’ financial stability as a key issue.

In most cases, Harris and Trump rebuke their opponent while pledging to “save” Social Security and Medicare, ignoring the details or the role Congress must play in the discussion.

How to address projected shortfalls in the Social Security and Medicare trust funds will be an increasingly important issue for the President and Congress over the next decade.

The latest report from the Social Security Trustees estimates that the Old Age, Survivors, and Disability Insurance trust funds will be able to pay full benefits by 2035. After that, without legislative action, benefits would drop to about 83%.

The trustee report for Medicare shows that the funding stream for the hospital insurance trust fund will be able to cover all of its bills through 2036, before it will only be able to cover 89% of costs.

Currently, 67.5 million people are enrolled in Medicare, which provides health insurance and prescription drug coverage to people over age 65 and younger people with certain serious illnesses or disabilities.

Nearly 68 million people receive some level of Social Security benefits each month, accounting for about $1.5 trillion in federal government spending annually, according to a fact sheet.

While the issue is somewhat less pressing for Trump, whose term would be limited to another four years, Harris could theoretically spend the next eight years in the Oval Office, which would make the solvency of the trust funds an issue they are likely to discuss with Congress would have to.

Protect seniors

During the September debate, Harris brought up Social Security and Medicare after being asked how her political views on fracking, assault weapons and border security have changed over time.

“My work to protect Social Security and Medicare is based on years of work I have done. Protecting seniors from fraud,” Harris said as part of a longer response. “My values ​​have not changed. And what’s important is that you have a president who actually brings values ​​and a perspective that’s about lifting people up, not knocking them down and berating them.”

Harris later brought up Medicare again, pointing out that a law Congress passed during Biden’s term allowed program administrators for the first time to negotiate certain prescription drug prices. This law, known as the Inflation Reduction Act, also capped insulin costs for Medicare members at $35 per month.

During the September debate with Harris, Trump did not address the issue of Social Security or Medicare, but he spoke about the two programs during an earlier summer debate with President Joe Biden before stepping down as the Democratic nominee.

During that debate, Trump claimed the Biden administration would “destroy” the two programs by allowing non-citizens to receive benefits.

FactCheck notes on its website that comments and viral posts about noncitizens receiving Social Security benefits don’t always reflect reality and sometimes confuse various programs.

“Immigrants legally living or working in the United States are entitled to a Social Security number and, in some cases, Social Security benefits. But viral posts falsely claim that “illegal immigrants” can receive Social Security numbers and retirement benefits, and they confuse two programs administered by the Social Security Administration.”

KFF writes on its website that whether legal immigrants are eligible for Medicare depends on several factors, including how long they have been paying into the system.

“New immigrants are not eligible for Medicare regardless of their age. Once immigrants meet residency requirements, eligibility and enrollment work the same as for others.”

Trump on entitlement programs

Trump’s comments on entitlement programs have not always been consistent or entirely clear, but he and his campaign both claim they will “save” the program.

During an interview with CNBC in March, Trump said there are numerous measures lawmakers can take to combat solvency.

“There’s a lot that can be done as far as entitlements goes, as far as cutting and also the theft and mismanagement of entitlements,” Trump said, declining to list any of those policy proposals.

Trump’s campaign website posted a video of him back in January 2023 saying Republicans should “not cut a dime” from Medicare or Social Security to fund other legislation.

The problems with Social Security and Medicare are not related to Congress cutting tax dollars going to the programs. Rather, it is the structure for the programs that the legislature has previously set up.

Without congressional action, the trust funds will be unable to process benefit payments in the long term.

So the challenge for the next president will not be to stop lawmakers from taking action on Social Security and Medicare, but to find a bipartisan path for legislation to change revenues, spending, or both.

Trump wants to end taxes on Social Security benefits and wrote on social media in July, “SENIORS SHOULD NOT PAY SOCIAL SECURITY TAXES!”

Henry Aaron, Bruce and Virginia MacLaury chair and senior fellow in the economic studies program at the Brookings Institution, wrote in a detailed analysis of the platform that Trump’s proposal to eliminate the income tax on Social Security benefits would “accelerate the depletion of the trust fund by about two percent years.” and deepen the long-term funding gap by more than 7%.”

Harris guidelines

Harris’ campaign website says she will “protect Social Security and Medicare from the relentless attacks of Donald Trump and his extreme allies.”

“It will strengthen Social Security and Medicare in the long run by making millionaires and billionaires pay their fair share of taxes,” the policy site says. “She will always fight to ensure that Americans can count on receiving the benefits they deserve.”

Harris announced during an appearance on “The View” in early October that if elected, she would work to provide long-term home care for seniors enrolled in Medicare.

“There are so many people in our country who are right in the middle: They’re taking care of their children and they’re taking care of their aging parents, and it’s just almost impossible to do everything, especially when they’re working.” Harris said during the live interview. “We find that so many then have to give up their jobs, which means the loss of a source of income, not to mention the emotional strain.”

The proposals would likely need partial, if not full, approval by Congress to move forward and could come with an annual price tag of $40 billion, although the campaign noted in a fact sheet that there are trade-offs.

“These new benefits will be paid in full and will extend the life of the Medicare trust fund by expanding Medicare drug price negotiations, increasing the discounts drug manufacturers provide for certain brand-name drugs in Medicare, and combating Medicare fraud,” it said .

A Harris administration would also “take action against pharmaceutical benefit managers (PBMs) to increase transparency, disclose more cost information, and regulate other practices that increase prices” and “implement international tax reform” to support the changes finance.