General Discussion
In reply to the discussion: What is wrong with the tax cut for SS recipients. Although I will save [View all]lostincalifornia
(4,868 posts)Trump's Social security administration sent out an email praising this "tax break", with some misleading statements in the email:
https://www.nbcnews.com/politics/trump-administration/social-security-administration-sends-misleading-email-lauding-trumps-n-rcna216990
"The "big, beautiful bill" features a new tax break for older Americans who pay taxes on Social Security income. But there's a significant catch.
Why it matters: The break leaves out the poorest seniors who already don't pay Social Security taxes and the very rich ones, too.
How it works: Both the House and Senate bills include an increased tax deduction for tax filers age 64 and older. In the Senate version, the new deduction is $6,000 for individuals and $12,000 for couples.
The deduction starts phasing out for those who earn over $75,000 ($150,000 for couples), and phases out completely at $175,000 for individuals and $250,000 for couples, in the Senate version.
The break expires in 2028 when President Trump leaves office, as do a few other White House priorities in the bills, including no tax on tips, no tax on overtime, and no tax on auto loan interest."
https://www.axios.com/2025/07/03/big-beautiful-bill-social-security