The Social Security Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely professing it eradicates federal cash flow taxes on most retirees’ Added benefits.
It does so by supplying an enhanced deduction for taxpayers aged sixty five and older, ensuring that retirees can maintain a lot more of what they earned.
Social Security continues to be dedicated to delivering timely, accurate details to the public and may continue on Doing the job carefully with federal partners to be sure beneficiaries know how this laws may possibly impact them.
As a result, the extra $6000 deduction and no taxes on SS signifies Totally almost nothing to us. We are addressing the higher charges but have been given nothing at all Using the passage of the BBB.
July 12, 2025 three:20PM So fundamentally, for the reason that I’m 43 and get SSDI this Monthly bill changes absolutely nothing for me Regardless that I labored Extensive Really hard hours to get paid the minor little bit of money that I do get… for the reason that in between my husband and I, we do make below $150k a year, but still ample that Section of mine is taken into account “taxable “
July eleven, 2025 2:45PM I've observed a big difference in the way in which information is presented by SSA. I see no specific information on how this affects me for the long term. I am seventy three now and would love to see our Rewards not taxed. Nonetheless, it’s a “I’ll think it After i see it” report.
The brand new legislation features a provision that eradicates federal cash flow taxes on Social Security Added benefits for most beneficiaries, supplying reduction to individuals and couples.
The Monthly bill makes certain that virtually ninety% of Social Stability beneficiaries will no longer fork out federal income taxes on their Rewards, furnishing significant and fast aid to seniors who've put in a life span contributing to our country’s economy.
By noticeably reducing the tax burden on Rewards, this legislation reaffirms President Trump’s promise to protect Social Security and assists make sure that seniors can greater enjoy the retirement they’ve earned.”
July thirteen, 2025 6:13PM If you and/or your spouse labored challenging for decades and the government took deductions for SS then Of course, a citizen warrants the payments they promised you in retirement. Far too bad that a great number of citizens video game the technique and consider much more than they ought to be entitled to receive.
July twelve, 2025 8:50PM That you are a person that may advantage. Check with your tax individual- but as I are aware of it, you are able to post a brand new withholding variety to get less read more taken out OR you'll be able to assert the $6k at tax time. I’m not an expert but that’s how I go through it.
There isn't any modify from the taxability of social stability Rewards. The Invoice only provides A brief reward deduction of $6k for seniors sixty five+ and only earning underneath $75k if One or $150k if married.
July fifteen, 2025 eight:04AM I receive a smaller pension along with my social stability every month. I've a small financial commitment account. If I pull funds out, it causes my cash flow to pass the money Restrict and my SSI is taxed. Will this nonetheless be the case?
July ten, 2025 six:24PM How is everyone supposed to rely on this Administration’s postings when they are fundamentally biased and downright misleading? Like Other folks submitting on listed here, This can be very little but gaslighting and check here fanfare. The information espoused are spurious to say the the very least.
The facts? The freshly signed regulation is projected to even further to weaken the Social Safety plan and its earnings. The SSA’s statement is really a blatant lie and falsely misrepresents the Invoice which was signed into regulation, as well as its harm to retirees.
Men and women professing read more social safety Gains who will be less than 65 or previously mentioned Those people earning thresholds will see no tax profit.