Social Security cost-of-living allowance increases for 2017 is just $5

As retirees and their financial advisors grapple with the prospect of another year with flat Social Security income, the presidential candidates have had little to say about the program at the last two debates.

But Donald Trump and Hillary Clinton spelled out their positions in an AARP Bulletin on June 27.

There, Clinton’s campaign said she was against cutting COLAs, would push back against privatization of the program, and fight efforts to increase the retirement age. She has also supported taxing high earners’ income beyond the current cap of $118,500.

In that same AARP Bulletin, Trump’s campaign said he would work with Congress to ensure “we have a pro-growth agenda in place,” but did not provide details on specific changes to Social Security.

“If we are able to sustain growth rates in GDP that we had as a result of the Kennedy and Reagan tax reforms, we will be able to secure Social Security for the future,” his campaign said.