The Social Security Administration’s chief actuary said Tuesday that the budget package President Donald Trump signed into law last month will harm Social Security’s finances, bringing forward the date beyond which the program will no longer be able to pay out full benefits.

In a letter to Sen. Ron Wyden (D-Ore.), who requested an analysis of the budget law’s impact on Social Security’s trust funds, Chief Actuary Karen Glenn wrote that the income tax provisions of the Trump-GOP measure “will have material effects on the financial status” of the program.

Glenn estimated that under the law — which includes a temporary new tax deduction for seniors — “the reserve depletion date for the [Old-Age and Survivors Insurance] Trust Fund is accelerated from the first quarter of 2033 to the fo

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