The Social Stability Administration is spreading misinformation about Trump’s reconciliation Monthly bill, falsely claiming it removes federal money taxes on most retirees’ Gains.

It does so by giving an enhanced deduction for taxpayers aged 65 and more mature, making sure that retirees can retain a lot more of whatever they acquired.

Social Stability continues to be dedicated to providing well timed, exact information to the general public and will carry on Operating intently with federal associates to ensure beneficiaries understand how this legislation may perhaps have an affect on them.

Hence, the additional $6000 deduction and no taxes on SS suggests Unquestionably nothing at all to us. We're working with the upper charges but have been given absolutely nothing While using the passage of your BBB.

July twelve, 2025 3:20PM So generally, mainly because I’m 43 and obtain SSDI this bill adjustments practically nothing for me even though I labored LONG HARD several hours to make the minor bit of money which i do get… mainly because between my spouse And that i, we do make less than $150k a yr, but nevertheless sufficient that Portion of mine is considered “taxable “

July 11, 2025 2:45PM I have recognized a variation in just how information is offered by SSA. I see no certain data on how this impacts me for the long term. I am seventy three now and would love to see our Added benefits not taxed. Even so, it’s a “I’ll feel it when I see it” short article.

The new law features a provision that eliminates federal profits taxes on Social Stability Positive aspects for some beneficiaries, supplying aid to people and couples.

The Invoice makes certain that practically ninety% of Social Stability beneficiaries will not fork out federal income taxes on their Positive aspects, providing meaningful and rapid aid to seniors who've put in a life time contributing to our country’s economic system.

By substantially cutting down the tax stress on benefits, this laws reaffirms President Trump’s assure to protect Social Stability and allows be sure that seniors can improved enjoy the retirement they’ve attained.”

July 13, 2025 6:13PM Should you and/or your partner worked really hard for many years and The federal government took deductions for SS then YES, a citizen warrants the payments they promised you in retirement. Far too terrible that numerous citizens sport the program and get over they should be entitled to obtain.

July 12, 2025 eight:50PM That you get more info are a person that may reward. Speak with your tax individual- but as I understand it, you could submit a brand new withholding variety to obtain a lot less taken out OR you'll be able to claim the $6k at tax time. I’m not a specialist but that’s how I study it.

There isn't any transform from the taxability of social safety Advantages. The Invoice only gives A brief reward deduction of $6k for seniors 65+ and only earning down below $75k if Solitary or $150k if married.

July 15, 2025 8:04AM I get a little pension coupled with my social safety every month. I've a little investment decision account. If I pull cash out, it brings about my revenue to pass the profits limit and my SSI is taxed. Will this continue to be the case?

July 10, 2025 6:24PM How is any person imagined to trust this Administration’s more info postings when they're fundamentally biased and downright misleading? Like Other folks posting on right here, This is certainly absolutely nothing but gaslighting and fanfare. The specifics espoused are spurious to state the the very least.

The facts? The recently signed law is get more info projected to even more to weaken the Social Stability application and its earnings. The SSA’s assertion is usually a blatant lie and falsely misrepresents the Monthly bill which was signed into regulation, and its harm to retirees.

Individuals proclaiming social safety Positive aspects that are underneath sixty five or earlier mentioned Those people earning thresholds will see no tax profit.