As of now, there is no plan proposed to change the tax rate paid by employers, employees, and self-employed individuals to zero percent.
In response to the letter written by four Democratic senators, Goss said that if zero percent tax is made applicable without an alternative source to replace the funds, social security could run out by 2023. Moreover, he also mentioned that it is hypothetical legislation.
On Aug. 10, 2020, in a press briefing, President Donald Trump said that cutting the payroll tax has zero impact on social security as the government will reimburse through the general fund. He said the same in an exclusive interview on Fox News conducted by Steve Hilton. In an interview on Sept. 8, 2020, with CBS12 News in Florida, Trump said there might be a payroll tax cut if he wins a second term. He did not mention eliminating the tax.
Trump remarks suggest that he wants a fully funded Social Security program, but he does not want the taxes that pay for it. He insists that the money would be replaced with general funds.