As it stands, they are talking about “means testing” social security. I.e., if you have a significant 401K, then you don’t get any SS money. Probably you would also need to contribute $$$ to your Medicare coverage.
The funds are then returned to the General Accounts Ledger where they are used to pay for GSA coming out parties.
If they means tested Social Security that money would never be paid to recipients to be subjected to the personal income tax, and GSA would have to give up the coming out parties.