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Asked where they keep their cash at home, about 10% of respondents store it in a safe, making it the most popular place.
Other spots are less conventional. About 6% hide their cash in a secret compartment such as “a drawer that has a fake side that you can’t see,” said Yuval Shuminer, Piere’s founder and CEO.
Here’s what to know about keeping cash at home, and where to put your money instead.

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While having some cash on hand can be helpful in an emergency, it’s important to consider where you keep it. Some people stash it in inconspicuous places around the house, a habit that experts say can lead to trouble down the line.
The typical person has roughly $544 in cash and valuables like coins, banknotes, and bullion at home, according to a new survey from financial management app Piere. The site surveyed 1,500 U.S. adults in late January and early February.

Asked where they keep their cash at home, about 10% of respondents store it in a safe, making it the most popular place.
Other spots are less conventional. About 6% hide their cash in a secret compartment such as “a drawer that has a fake side that you can’t see,” said Yuval Shuminer, Piere’s founder and CEO.
Another 6% of respondents said they keep the money either under or in a bed, mattress or pillow, while 5% keep the cash in a freezer or refrigerator. Smaller shares of those surveyed said they keep money in an ornament, vase, or urn (4%), or under floorboards or a carpet (3%). 
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Times of economic uncertainty can lead people to hold more cash, said Shannon Martin, a licensed insurance agent and content writer for Bankrate.

But don’t overdo it, experts say.
Storing cash at home doesn’t give you the same protections as you get with an account at an insured financial institution. You also risk losing out on potential gains from high-yield interest or stock market returns, said Piere’s Shuminer. 

Risks with hiding cash around the house

Having too much cash around the house can expose you to a number of issues. For one: Your home insurance policy might not protect the entire amount.
Items like cash tend to fall under a subcategory called special limits, said Bankrate’s Martin. This means that the covered value is capped at a certain amount, which can depend on your insurer, she said. 
Most home insurance policies will have a $200 coverage sublimit to replace cash, coins and precious metals, Bankrate found.
Some insurers offer higher limits. You could also ask your insurance agent about an endorsement to increase the coverage, but then you would have to prove that you have a high amount of money in your house, Martin said. 
“If you’re trying to put in the claim for $10,000 of cash that you have stuffed in your mattress, there’s probably a lot of questions around that,” she said.

Money deposited in an account that is protected by the Federal Deposit Insurance Corporation will be safer.
“If you keep it in a bank, the bank has insurance,” Martin said. “If something happens to your cash at home, you only have whatever’s listed on your policy.”
This can make money that’s lost or stolen difficult to replace, even in the face of natural disasters.  
If your home is impacted by a hazard like a fire and you have large sums of cash scattered in your house, “you’ve got this cash that’s now gone up in smoke, potentially,” said certified financial planner Lee Baker, the founder, owner and president of Claris Financial Advisors in Atlanta. He’s also a member of CNBC’s Advisor Council.

Where to keep your cash instead

Don’t shy away from having some cash at home.
“I’ve been in a hurricane where power was out for a very long time and the ATMs don’t work,” said Carolyn McClanahan, a CFP and the founder of Life Planning Partners in Jacksonville, Florida.
At that point, “cash is king,” said McClanahan, who’s also a CNBC FA Council member.
Baker agreed: “Having enough cash to get you through a day, perhaps two, actually makes sense.”
Instead of hiding your savings in drawers, bookcases and secret compartments, here are three other places to keep your money:

1. A high-yield savings account

Experts say that you want to have enough money in your checking account to pay for a month’s worth of bills. Keep anything more than that in a savings account, and ideally, a high-yield savings account.
As of March, some of the top high-yield savings accounts offer an average 4.20% APY versus a 0.6% APY, according to Bankrate.
“It’s just money that they’re leaving on the table,” Shuminer said.

2. Investment accounts

Money for mid- and long-term goals is generally better invested because inflation erodes the value of your savings. While the market can be volatile in the short term, over a long timeline, investment returns will generally outpace inflation, McClanahan said.
“Cash does not outpace inflation,” McClanahan said.
While the market’s recent volatility can be intimidating, experts generally recommend investors focus on their long-term goals.
“You might be leaving thousands of dollars that you could be earning over the course of the next year just by not having it sitting in the right places,” Shuminer said.

3. A ‘personal financial bag’

For emergencies, have enough money to tide you over for a day or two in a “personal financial bag” at home that you can simply grab in the case of fire or other emergencies, Baker said.
Consider keeping that bag in a water- and fireproof safe, said Bankrate’s Martin. If something happens, you may still be able to go in and get the money, she said.
Whether you have a safe or opt for another location, keep the money in one spot in your house and make sure everybody in your family or household knows where it is, Baker said.
“I would not encourage emergency money being in too many different places,” Baker said. “In the time of an emergency, things need to be simple.” More

Your pre-tax individual retirement account is subject to future income taxes on withdrawals, depending on your tax bracket.
However, the funds could offer some “dry powder” — pre-tax money in retirement accounts that can be strategically withdrawn for planning opportunities, said certified public accountant Jeff Levine.

Songsak Rohprasit | Moment | Getty Images

When saving for retirement, it’s easy to funnel money into a pre-tax 401(k) plan or individual retirement account without planning for future taxes. Those pre-tax funds, however, can be handy in some cases, experts say.
Often, investors roll pre-tax 401(k) accounts into traditional IRAs, and the withdrawals in retirement trigger regular income taxes, depending on your tax bracket. 

“Your IRA is an IOU to the IRS,” certified public accountant Ed Slott said during a session last week at the Horizons retirement planning conference in Coronado, California.  
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With uncertain future tax rates, Slott pushes for savings in after-tax Roth accounts, which won’t incur taxes in retirement. He also likes to use Roth conversions.
Roth conversions move pretax or nondeductible IRA funds to a Roth IRA, which can kick-start tax-free growth after an upfront tax bill. 
However, there are scenarios where keeping some money in your pre-tax IRA makes sense, Slott said. 

Certified public accountant Jeff Levine agreed. He told CNBC he prefers some “dry powder” — pre-tax money in retirement accounts that can be strategically withdrawn for planning opportunities.
By comparison, “you’ve already paid your tax bill” with after-tax Roth accounts, he said.

Medical deduction for long-term care

One tax planning opportunity is for retirees expecting long-term care expenses, experts say.
A 2022 research brief from the Department of Health and Human Services found 56% of Americans turning 65 that year will develop a condition that requires long-term care services.
Whether it’s in-home health aids or assisted living facilities, long-term care expenses are rising, according to Genworth’s annual survey. 
But the medical expense deduction could help offset those costs, according to Levine. For 2025, you can claim the tax break for expenses that exceed 7.5% of your adjusted gross income for the year.

If you itemize tax breaks, the deduction reduces the amount of your income subject to tax. That means part of the medical expense deduction could be lost if your income is too low.
“You wipe it out,” Levine said.
But that issue could be solved with a large pre-tax IRA withdrawal in the year of high long-term care expenses, which boosts your adjusted gross income for that year, he said.

Tax break for charitable giving

There’s another tax planning opportunity for investors with pre-tax IRAs who want to give to charity, Slott said.
Slott was referring to qualified charitable distributions, or QCDs, which are direct transfers from an individual retirement account to a non-profit organization. You must be age 70½ or older to qualify for a QCD.
While there’s no tax deduction for a QCD, the transfer is excluded from your income, meaning it won’t boost your adjusted gross income.  
If you want to leave assets to charity and adult children after death, pre-tax IRAs are less attractive for your heirs because they must follow the “10-year rule,” and empty accounts within 10 years of the original owner’s death. More

The Federal Reserve is likely to hold interest rates steady at the end of its two-day meeting on March 19.
While high interest rates have put pressure on households, some borrowing costs are starting to ease, potentially providing relief for consumers with credit card debt or considering a home or auto purchase. 
Here’s a look at where those rates stand.

The Federal Reserve is expected to hold interest rates steady at the end of its two-day meeting next week, despite some encouraging news on inflation. 
Although inflation receded last month, an escalating trade war threatens to cause prices to rise on a wide range of consumer goods going forward.

“This is likely just the beginning with tariffs on Europe and universal ones to follow suit over the coming weeks,” Andrzej Skiba, head of U.S. fixed income at RBC Global Asset Management, said in an email. “This will be inflationary, and the Fed won’t likely be able to cut rates in this environment.”
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The federal funds rate sets what banks charge each other for overnight lending, but also affects many of the borrowing and savings rates Americans see every day.
“Consumers are stretched and stressed,” said Greg McBride, chief financial analyst at Bankrate.com.
Once the federal funds rate comes down, consumers may see their borrowing costs decrease across a variety of consumer debt such as auto loans, credit cards and mortgages, making it cheaper to borrow money. 

But even with the Fed on the sidelines for now, households could see some relief. Already, rates for mortgages, auto loans and credit cards are edging lower. Still, these rates remain relatively elevated compared to recent highs, with credit card APRs down only slightly from an all-time record. 
Here’s a look at where consumer borrowing costs stand.

Mortgages

Although 15- and 30-year mortgage rates are fixed, and largely tied to Treasury yields and the economy, rates have been trending lower for weeks.
Worries about a possible recession and increased uncertainty over President Donald Trump’s tariff plans have soured consumers’ outlook and dragged down rates, according to the Mortgage Bankers Association.
“The good news is that even though the Fed has taken its foot off the gas when it comes to rate cuts, mortgage rates have fallen,” said Matt Schulz, chief credit analyst at LendingTree.
The average rate for a 30-year, fixed-rate mortgage is now 6.77%, down from 7.04% at the beginning of the year, according to Bankrate.

Credit cards

Most credit cards have a variable rate, so there’s a direct connection to the Fed’s benchmark.
But even though the central bank held rates at the last few meetings, the average annual percentage rate has moved lower too — it’s currently, down to 20.09%, from 20.27% at the start of the year, thanks to the lingering effects of last year’s rate cuts. 

“March was the sixth straight monthly decline, but the decreases have slowed as Fed rate cuts get further back in the rearview mirror,” Schulz said of credit card APRs.
In the meantime, credit card debt continues to be a pain point for consumers struggling to keep up with high prices. Revolving debt, which mostly includes credit card balances, is up 8.2% year over year, while nonrevolving debt, such as auto loans and student loans, is 3% higher, according to the Federal Reserve’s latest consumer credit report.

Auto loans

Although auto loan rates are fixed, those payments continue to grow because car prices are rising, in addition to pressure from trade policy uncertainty.
“That’s troubling news for potential car buyers, who are already beset on all sides by high rates and high prices and also face the possibility of tariffs pushing car costs even higher,” Schulz said.
However, auto loan rates have also backed down from recent highs. The average rate on a five-year new car loan is now 7.42%, down from 7.53% in January, according to Bankrate.

Student loans

Federal student loan rates are fixed, as well, so most borrowers are somewhat shielded from Fed moves and recent economic turmoil.
Undergraduate students who took out direct federal student loans for the 2024-25 academic year are paying 6.53%, up from 5.50% in 2023-24. Interest rates for the upcoming school year will be based in part on the May auction of the 10-year Treasury note.
Private student loans tend to have a variable rate tied to the prime, Treasury bill or another rate index.

Savings

On the upside, top-yielding online savings accounts have offered the best returns in more than a decade and currently pay 4.4%, on average, according to Bankrate.
While the Fed holds rates steady, “savings rates really haven’t changed all that much, that’s the good news,” said Bankrate’s McBride. “Savings rates are still at attractive levels and the top yields are still well in excess of inflation.”
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Many members of the U.S. armed forces qualify for special tax breaks that aren’t available to other Americans.
Some of the key benefits include state residency flexibility, tax-exempt allowances, combat pay and more.

Bethany Petrik | Moment | Getty Images

Keep your state residency

Members of the military often move frequently, but many families save on state taxes via a special federal law, experts say.

Under the Servicemembers Civil Relief Act, state income tax is based on your “state of legal residence” during active duty, regardless of where you’re stationed. If eligible, it’s possible to keep that residency through your military career.
“Military members tend to have residency in states without an income tax,” such as Florida, Texas or Washington, said CFP Curtis Sheldon, who is also an enrolled agent at C.L. Sheldon and Company in Alexandria, Va. The firm specializes in working with active and retired military members. 

Tax-exempt ‘allowances’

Another unique benefit for service members is tax-exempt “allowances,” Sheldon said.
Generally, pay is taxable, whereas most allowances — such as funds for housing and food — are tax-exempt, he explained.
“They don’t get reported anywhere on the tax return,” and these items don’t show up on Form W-2, he said. “It’s something you have to keep track of yourself.”

Combat zone income tax exclusion

‘Stop the clock’ on capital gains 

When selling a primary residence, many homeowners can exclude a portion of profits from capital gains taxes. 
Generally, the limit is $250,000 for single filers or $500,000 for married couples filing jointly. But you must meet the “use test” by living in the home for two of the last five years before the sale.
That rule is suspended for members of the armed forces, Sheldon said: “You get to stop the clock.”
That means it’s still possible to qualify for the tax break, even without meeting the two-year use test, if you lived elsewhere while on “qualified official extended duty,” according to the IRS. 
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As the Trump administration seeks to overhaul federal programs, that has prompted new focus on Social Security’s future.
Some experts say privatizing the program could help provide better returns.

BlackRock CEO Larry Fink speaks during the New York Times DealBook Summit Nov. 30, 2022 in New York City. 
Michael M. Santiago | Getty Images News | Getty Images

President Donald Trump’s efforts to slash federal government spending has ignited a new debate about the future of Social Security.
One idea that has been brought up before — privatizing the now public program — is getting new attention.

At the BlackRock retirement summit in Washington, D.C., on Wednesday, CEO Larry Fink said he supports more individual ownership in Social Security, though he said he would not necessarily use the term privatizing because it has toxic connotations.
“The problem we have now, we have a plan called Social Security that doesn’t grow with the economy,” Fink said.
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Social Security is a pay-as-you-go system — today’s payroll tax contributions generally fund benefits for current retirees and other beneficiaries.
Any leftover money that is not used to either pay benefits or fund the program’s administrative costs is put into the program’s trust funds. That money is invested in special Treasury bonds that earn a market rate of interest and which are guaranteed by the U.S. government, according to the Social Security Administration.

Privatizing the program could provide a way to invest money on behalf of individual workers that potentially earns a higher return, according to supporters of the idea.
“If we create a plan that every American can grow with our economy, they’re going to feel more attached to our economy,” Fink said.

‘Real battle’ brewing over Social Security’s future

Opponents say that change could interfere with the safety and predictability of Social Security’s benefit payments.
“There’s a lot of people out there in the private sector that say, ‘You give me $2.7 trillion and let me invest that, and I can turn you a lot better, greater dividend around than the Treasury bills can,'” Rep. John Larson, D-Conn., said in an interview with CNBC.com at his Capitol Hill office on Tuesday.
While investing more aggressively provides the possibility for better returns, it also opens up the risk of poor performance and losses.
In 2008, the stock market dropped along with many people’s 401(k) plans, Larson said. Yet Social Security never missed a payment, he said.
Americans now face a decision as to whether they want capitalism or the government to guarantee their retirement, Larson said.
Larson believes the Trump administration’s goal is to privatize Social Security. When asked for comment, the White House referred CNBC to a new fact sheet issued this week affirming, “President Trump will always protect Social Security, Medicare.” That document does not mention privatizing the program.

House Ways and Means lawmakers on Wednesday voted to block a full House vote on a resolution of inquiry that Larson proposed to require disclosure of so-called Department of Government Efficiency activity at the Social Security Administration. At the hearing, Larson said he is concerned the Trump administration could try to privatize the program.
“We, I think, are in real battle here, and it’s really, in many respects, not unlike the battle that Roosevelt faced initially,” Larson told CNBC.com on Tuesday.

Privatizing Social Security has been considered before

The Social Security Act that created the program was signed into law by President Franklin D. Roosevelt in 1935.
The idea of privatizing the program was proposed in 2005 by President George W. Bush.
Had those efforts been successful, Americans would have seen their retirement money increase four-fold, based on the returns of the S&P 500 index over that time, Fink said.
“I think more Americans would be a little more hopeful today with their retirement savings than just getting that bond payment,” Fink said.
Had Bush’s proposals gone through, Americans “probably would have been” better off today, said Andrew Biggs, a senior fellow at the American Enterprise Institute who served as associate director of Bush’s White House National Economic Council in 2005.
But the question now as to whether to invest Americans’ retirement money in government bonds or equities is misguided, Biggs said.
If someone has not saved money for retirement, the dilemma of where to invest is not relevant since they do not have the funds, he said. The same is true of the federal government, which currently does not have a significant surplus for the pay-as-you-go program.

Moreover, if Social Security transitions to personalized accounts, there would also need to be extra money available to fund the transition costs to keep benefits going to current retirees, he said.
“It’s a question of saving more,” Biggs said.
Generally, Social Security reform discussions focus on making changes to improve the current system — raising taxes, cutting benefits or a combination of both.
Larson has a proposal to improve Social Security’s solvency by raising taxes on the wealthy while implementing benefit increases.
Yet it remains to be seen whether Republicans, who generally oppose tax increases, and Democrats, who do not want benefit cuts, can reach a bipartisan compromise.
Starting reform discussions based on the program’s current structure is limiting, Biggs said.
“We really do have a failure of imagination on Social Security reform,” Biggs said. “I think what Larry Fink is saying is, ‘Let’s think big on it.’ I think he’s absolutely correct on that point.” More

Democratic state attorneys general filed a lawsuit against the Trump administration over its termination of more than 1,300 Education Department staffers.
“The lay-offs are an effective dismantling of the Department,” the state AGs wrote.
As an agency authorized by Congress, the Education Department cannot be eliminated without congressional approval.

A security guard walks past the U.S. Department of Education headquarters in Washington, D.C., March 12, 2025.
Nathan Howard | Reuters

A group of Democratic state attorneys general filed a lawsuit against the Trump administration Thursday over its moves to dismantle the U.S. Department of Education and its termination of nearly half the agency’s staff.
Attorneys general from 20 states and the District of Columbia filed the legal challenge in response to the administration’s dismissal of more than 1,300 workers at the department.

“The lay-offs are an effective dismantling of the Department,” the state AGs wrote.
“[The] Department’s authority to administer [Reductions in Force] does not override Congress’s exclusive authority to abolish executive agencies or to discontinue their functions,” they added.
As an agency authorized by Congress, the Education Department cannot be eliminated without congressional approval. But in the meantime, the Trump administration can slowly starve it by cutting resources.
The defendants named in the lawsuit are President Donald Trump, Secretary of Education Linda McMahon and the U.S. Department of Education.
“President Trump was elected with a mandate from the American public to return education authority to the states,” said Madi Biedermann, deputy assistant secretary for Communications at the U.S. Department of Education.

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On Tuesday, McMahon said on CNBC’s “Squawk Box” that efforts to dismantle the agency are “proceeding as expeditiously as possible.”
The Education Department manages the country’s more than $1.6 trillion student loan portfolio, provides funding for schools and ensures civil rights.
This is a developing story. Please check back for updates. More

As lawmakers debate President Donald Trump’s tax cuts, the federal deduction on state and local taxes, known as SALT, could become a sticking point.
Through 2025, residents who itemize tax breaks cannot deduct more than $10,000 in levies paid to state and local governments, including income and property taxes.
That could change amid tax negotiations with lawmakers from high-tax states like California, New Jersey and New York.

U.S. Representative Josh Gottheimer (D-NJ) speaks during a press conference about the SALT Caucus outside the United States Capitol on Wednesday February 08, 2023 in Washington, DC. 
Matt McClain | The Washington Post | Getty Images

As lawmakers debate President Donald Trump’s tax cuts, a key deduction could become a sticking point in 2025 tax negotiations, policy experts say.
Enacted via the Tax Cuts and Jobs Act, or TCJA, of 2017, there’s currently a $10,000 limit on the federal deduction on state and local taxes, known as SALT. Residents who itemize tax breaks cannot deduct more than $10,000 in levies paid to state and local governments, including income and property taxes.

That could change amid tax negotiations with lawmakers from high-tax states like California, New Jersey and New York.
Since 2018, the SALT cap has been a hot-button issue among certain lawmakers from those high-tax states. Before TCJA, the SALT deduction was unlimited, but the so-called alternative minimum tax reduced the benefit for some higher earners.
The TCJA SALT provision will expire after 2025 without action from Congress.
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Although Trump enacted the $10,000 SALT cap in 2017, he reversed his position last year on the campaign trail, vowing to “get SALT back” if re-elected. He has renewed calls for reform since being sworn into office.

“I’d love to see something happen on SALT,” Trump said in a Fox News interview on Sunday. 
However, it’s unclear how the provision will ultimately change amid competing tax priorities and a limited budget. 
“The SALT cap is a major revenue raiser,” said Garrett Watson, director of policy analysis at the Tax Foundation. “That’s the balancing act.”

Trillions of dollars in tax breaks enacted via TCJA are scheduled to expire after 2025, including lower tax brackets, a bigger child tax credit and a 20% deduction for pass-through businesses, among others. 
Extending individual and estate tax provisions would reduce revenue by $3.9 trillion over the next decade, according to the Committee for a Responsible Federal Budget.
One SALT reform proposal, which aims to raise the SALT cap to $20,000 for married couples filing jointly, would further decrease revenue by $170 billion, the organization estimates.  
Other plans have called for a higher SALT deduction limit or raising the cap for taxpayers under a certain income threshold.

The budget is ‘too small’ for tax agenda

With control of both chambers of Congress, Republicans plan to use a process known as “reconciliation” to enact Trump’s tax agenda. Currently, the House Republicans’ budget blueprint authorizes $4.5 trillion in tax cuts through 2034, though it could change in Senate negotiations.
That’s an “almost unfathomably large number and somehow too small for the current agenda,” unless lawmakers include offsets to pay for the proposed tax cuts, said Andrew Lautz, associate director for the Bipartisan Policy Center’s economic policy program.
“If there is a major tax deal this year, it seems almost certain that SALT will be part of the discussion,” he said. More

The Social Security Administration recently announced plans to cut 7,000 employees and close some regional offices.
Those changes could impact the agency’s ability to process and disburse benefit checks, Democratic Sens. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon warn.

Sen. Ron Wyden, D-Ore., and Sen. Elizabeth Warren, D-Mass., speak to reporters on Capitol Hill in Washington, D.C. 
The Washington Post | The Washington Post | Getty Images

Democratic Sens. Elizabeth Warren of Massachusetts and Ron Wyden of Oregon are warning Frank Bisignano, the nominee to lead the Social Security Administration, that he will be responsible if staff cuts interfere with the agency’s ability to process and disburse benefit checks.
President Donald Trump has nominated Bisignano, chief executive of payments and financial technology company Fiserv, to serve as commissioner of the agency, which is responsible for sending monthly benefit payments to more than 72 million Americans.

“As President Trump’s nominee for SSA Commissioner, you will be responsible if the Trump Administration’s attacks on the program result in failures or delays in getting Americans their Social Security checks — in other words, a backdoor cut to benefits,” Warren and Wyden wrote in a March 11 letter to Bisignano, shared exclusively with CNBC.
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Bisignano’s Senate confirmation hearing is expected to take place later this month, according to a source familiar with the situation.
In the interim, the agency is under the leadership of acting Commissioner Lee Dudek, who according to reports publicly stated before his appointment that he had been put on administrative leave after helping representatives of Elon Musk’s so-called Department of Government Efficiency. Dudek succeeded former acting Commissioner Michelle King, who stepped down following reported disagreements with DOGE over access to sensitive data.

The Social Security Administration recently announced plans to cut 7,000 employees and close regional offices.

“This would represent a reduction in workforce of over 10 percent and will have devastating impacts on the program,” Warren and Wyden wrote.
Social Security beneficiaries already may face longer wait times because of the changes, the senators wrote. If the agency seeks to reduce its staff further, “the results will be devastating,” Warren and Wyden wrote.
In the 1980s, smaller Social Security workforce cuts led to 80,000 Americans not receiving their benefits, the senators said.
The new cuts could prompt millions of Americans to miss out on the benefits they earned and limit the Social Security Administration’s ability to catch and correct payment errors, the Democratic leaders said.
“The net result could be a disaster: more overpayments and waste in the system, at the same time that Americans who have earned their Social Security benefits are unable to receive them,” the senators wrote.

In response, a Social Security Administration spokesperson told CNBC via email that improving Social Security services for all Americans is “our common goal.”
“We are identifying efficiencies and reducing costs, with a renewed focus on mission critical work for the American people,” the spokesperson wrote. “These steps prioritize customer service by streamlining redundant layers of management, reducing non-mission critical work, and potential reassignment of employees to customer service positions. SSA is committed to ensuring that all Americans can get the help they need whether that is in our field offices, telephone, or through automated solutions.”
While Trump has vowed not to touch Social Security benefits, he has said that he plans to target “waste, fraud and abuse” in entitlement programs.
The White House on Tuesday said Trump will “always protect” Social Security and Medicare.
“The Trump Administration will not cut Social Security, Medicare, or Medicaid benefits,” the White House stated in a fact-check statement.
The White House was not immediately available for further comment.
Bisignano did not respond to a request from CNBC for comment by press time.

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