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Biden says Trump executive order is 'a reckless war on Social Security'

Former Vice President Joe BidenJoe BidenMcCarthy says he told Rep. Marjorie Taylor Greene he disagreed with her impeachment articles against Biden Biden, Trudeau agree to meet next month Fauci infuriated by threats to family MORE on Saturday called President TrumpDonald TrumpMcCarthy says he told Rep. Marjorie Taylor Greene he disagreed with her impeachment articles against Biden Biden, Trudeau agree to meet next month Trump planned to oust acting AG to overturn Georgia election results: report MORE’s executive order to cut payroll taxes “a reckless war on Social Security.”

One of the several orders Trump signed from his private club in Bedminster, N.J., on Saturday afternoon directs the Treasury Department to allow employers to defer payment of employee-side Social Security payroll taxes through the end of the year for Americans making less than roughly $100,000 annually. 

Trump also said he intends to forgive the deferred payroll taxes and make permanent payroll tax cuts if he is reelected in November.

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In an emailed statement addressing the president's order, Biden said that such a move would “undermine the entire financial footing of Social Security.”

The presumptive Democratic nominee said that, unlike the 2012 payroll tax plan put forth by the Obama administration, Trump’s executive order does not appear to include “protections or guarantees that the Social Security Trust Fund will be made whole.” 

“He is laying out his roadmap to cutting Social Security,” Biden said. “Our seniors and millions of Americans with disabilities are under enough stress without Trump putting their hard-earned Social Security benefits in doubt.”

Employees and employers each pay Social Security payroll taxes of 6.2 percent of wages and Medicare payroll taxes of 1.45 percent of wages. One of Biden's tax proposals would increase the payroll tax rate for people making more than $400,000.

It remains unclear if Trump has the legal authority to suspend payroll taxes by executive action, and the president intimated during a question-and-answer session with reporters Saturday that he is expecting a lawsuit to challenge his move. 

Congressional Democrats also denounced the order, with House Ways and Means Committee Chairman Richard NealRichard Edmund NealJudge says Treasury must give Trump 72 hours before releasing tax info to Democrats Trump's lawyers seek clarity about how tax-return case will proceed following Biden inauguration IRS says start of tax filing season delayed until Feb. 12 MORE (D-Mass.) calling it “a poorly disguised first step in an effort to fully dismantle these vital programs by executive fiat.”