Social Security Administration Budget 2024 Update. Nearly 68 million social security beneficiaries will see a 2.5% cola beginning in january 2025. A bill that could increase social security benefits for millions is being considered by lawmakers.

Receipts from payroll taxes, which fund social insurance programs—primarily social security and medicare—are projected to total $1.7 trillion in 2024, or 5.9 percent of gdp. This document summarizes the findings of the.