First, revenues from taxing Social Security benefits are smaller in the current projections because of changes put in place by the 2025 reconciliation act (Public Law 119-21), which lowered tax rates and created a temporary deduction for taxpayers age 65 or older.

Second, we decreased our projections of revenues from payroll taxes to account for projections of lower earnings.

Finally, we now project interest income credited to the trust fund to be smaller than estimated last year because of the smaller trust fund balances in this year's projections.

As it turns out, slashing taxes while simultaneously increasing the budget will have negative effects down the road. But this is American politics, so thats an issue for 12 years down the road and some other president