US EditionWarren, Wyden warn Trump policies could ‘decimate retirees’ savings’
- Senators Elizabeth Warren and Ron Wyden warned on June 8, 2025, that Trump's trade policies threaten retirees' finances across the U.S.
- Their concerns stem from the administration’s tariff policies, which they argue have triggered economic chaos and limited seniors’ access to Social Security benefits.
- Warren’s 2020 campaign proposed raising Social Security benefits by $200 monthly for all beneficiaries, alongside plans to increase tax deductions for seniors starting in 2025.
- According to Fidelity reports, the typical 401 account value decreased by 3% to approximately $127,100 earlier this year, while the Dow gained more than 400 points following a strong employment report for May.
- The senators’ letter to the White House highlights that ongoing tariff disruptions could severely undermine retiree savings and the Social Security Administration’s financial stability.
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Editorials: Dems hit the panic button on Trump tariff strategy
Sen. Elizabeth Warren missed the day when TACO was served. The acronym, which stands for “Trump always chickens out,” is a dig at President Trump and his record of imposing or threatening tariffs and then pausing them or backing off. The concept of negotiation or playing hardball is lost on TACO servers, but the term does at least acknowledge that tariffs are not necessarily set in stone. Our Democratic senator missed that part, as well as the m…
Wyden, Warren: Trump’s tariffs could erase retiree savings, 401(k)s
President Trump’s tariff policies and a weakening Social Security Administration could decimate senior citizens’ savings, Senate Finance Committee ranking member Ron Wyden (D-OR) and panel member Elizabeth Warren (D-MA) told administration officials on Friday. The Trump administration is “making it harder for seniors across the country to make ends meet” by pursuing “disastrous tariff policy” and limiting seniors’ access to Social Security benef…
Warren, Wyden warn Trump policies could ‘decimate retirees’ savings’
Democratic Senators Elizabeth Warren and Ron Wyden are expressing concern over the impact of Trump's tariffs on retirees and the cuts to the Social Security Administration, and are requesting the administration provide them with details on the effects.
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