Donald Trump's tax-cut plans and other agenda items would hasten Social Security's insolvency, a nonpartisan budget group said. The Republican nominee's proposals would also expand Social Security's cash shortfall by trillions of dollars and lead to even steeper benefit cuts in the coming years,

"Neither candidate has presented plans to fix Social Security’s finances," the Committee for a Responsible Federal Budget wrote in its report.

The Committee for a Responsible Federal Budget predicts many of Trump’s policies could hasten the looming depletion of the Social Security Trust Fund.

The Committee for a Responsible Federal Budget said Trump's plans would eventually slash payments to retirees by one-third.

Former President Donald Trump has long vowed to protect Social Security. But the bevy of tax breaks he’s promised – including pledging to stop taxing Social Security benefits – could hasten the depletion of the beloved entitlement program’s trust funds and leave seniors with smaller monthly payments.

Donald Trump's plans could undermine Social Security's financial stability and lead to a large benefits cut, nonpartisan think tank says.