Social Security Administration Budget Deadline Approaching: Will Shutdown Threat Impact Benefits?
WASHINGTON, D.C. — Congress faces a new deadline to pass spending bills to fund the government, including the Social Security Administration (SSA), by March 8. However, even if the budget deadline passes without action, Social Security recipients will continue to receive their monthly payments. In federal terms, Social Security benefits are considered “mandatory spending” with a dedicated, permanent funding source from payroll taxes. This means that the funding for these benefits is not affected by …