More than 70 percent of Americans who received their Social Security checks this year will be entitled to receive the benefit for a lifetime, according to the latest Social Security Administration data.
That’s the first time the government has reported such a number.
The increase comes after Congress last year passed the Supplemental Security Income (SSI) program, which is meant to provide some financial assistance to low-income workers who are retired and unable to work because of illness or disability.
That program is administered by the Social Security administration, which in turn is responsible for administering the tax benefits.
President Donald Trump has pledged to slash the SSI program by a third by the end of the year, though the amount would be phased out over the next several years.
That means the average income of Americans receiving Social Security income is expected to rise by an average of $1,000, according the Social Science Research Council.
While Social Security will not provide full benefits for everyone, those earning more than $80,000 a year can receive benefits starting Jan. 1.
The top Social Security tax rate is 20 percent, but some of those with lower incomes qualify for lower rates.
Social Security beneficiaries have been hit by a slew of recent tax increases.
The Tax Cuts and Jobs Act would raise taxes on individuals making between $1 million and $4 million and businesses earning more.
But the law also eliminates the $400 tax credit for certain filers who pay their Social to cover expenses such as medical bills, child care and utilities.
The new data comes as Congress is trying to come up with a comprehensive tax reform plan.
It is unclear if the tax overhaul will include the higher SSI benefits or the tax increases to fund them.