14-07-2025
Another winner from the new federal budget: Older Americans
C. Eugene Steuerle, a former Treasury official and co-founder of the Urban-Brookings Tax Policy Center, is the author of 'Abandoned: How Republicans and Democrats Deserted The Working Class, The Young, And The American Dream.' Glenn Kramon is a lecturer at Stanford Business School.
As President Donald Trump and Congress passed the federal budget, the tax cuts that will benefit the wealthiest Americans and businesses received much attention. But there is another group of winners mentioned less often: older Americans. Federal spending is set to rise significantly as Medicare and Social Security grow unsustainably, along with rising interest costs that the new budget only increases.
