Scott Bessent Reveals Trump's Plan for Faster Social Security Payments

Treasury Secretary Scott Bessent highlighted the Trump administration's comprehensive plan to enhance Social Security, focusing on "accountability" and "efficiency" as core elements designed to expedite benefits delivery and reduce fraud. "The American people voted for President Trump and for accountability. Whether it's DOGE or our work at the Treasury and IRS, we are committed to bringing accountability and efficiency," Bessent told Martha MacCallum on "The Story" Wednesday.

"We want to make things better. They are for the American people. We want to ensure that they get everything that they have paid in, and their benefits are there when they need them, as they need them."

On Tuesday, President Donald Trump signed an executive order directing the federal government to transition from paper checks to electronic payments by the end of September in an effort to minimize fraud risks and "unnecessary costs."

"If they are able to get into an electronic payment system, they [checks] are much more secure. They come earlier, and they are guaranteed," Bessent added.

His remarks follow a statement by Senate Minority Leader Chuck Schumer, D-N.Y., who said during a Wednesday press conference that seniors are "not receiving the assistance they need to access their checks."

Schumer also accused Republicans of attempting to "destroy" Social Security from the inside by making it "unworkable" and "inefficient," thereby creating a pretext to privatize the program.

Bessent dismissed the comments as "completely off the mark."

"[He] seems a little discombobulated these days. He did the right thing by passing the clean CR last week. He's taken a lot of shrapnel from his party, and extreme statements like this are not helpful for anyone," he said.