Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors
"The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.
The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy.
“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned."
The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples. Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.
Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them."
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This is the exact reason why I asked administrators to stop this because I didn't want this. Not because I was not calm .......
That is so sad that you are actually happy that ignorant people are being duped into voting for things they don’t actually want , so your preferred party wins.
You just showed an example of the selfishness and disregard for others that this country suffers from .
Which is why the Republicans were voted in again and judging by the way things are going, will stay in power for decades to come! 😊
This SS tax relief is a big smoke screen , as Casole explained in her first post , to cover up the fact that the biggest benefactors of this bill in general are the super rich ( in ways other than SS tax relief ) and cooperations . It’s just a continuation of his first Presidency .
Creating this SS tax relief and having it expire in a few years is a political move to get people to vote for this party again for future elections as they will promise to extend it .
But the changes that affect the rich never expire unless a new bill is passed with changes . That’s very telling of the real agenda here . This is who POTUS really cares about . The rest of us are just his political pawns .
It’s astounding how ignorant people in this country are .
Like Casole said , there were more responsible , genuine, and less greedy ways to have achieved this SS tax relief without the cuts that will hurt others .
Alva is correct , this thread is doomed .
"Who qualifies? Individuals with incomes of up to $75,000 ($150,000 for spouses filing jointly) can subtract the full $6,000 from their taxable income. The deduction phases out at higher income levels, and you can’t claim any of it if you earn more than $175,000 ($250,000 for a couple).
For example, in 2025 a 65-plus married couple with a combined income of $120,000 can take the standard deduction ($31,500 for joint filers), plus the existing age-related addition ($3,200), plus the new bonus ($6,000 each), reducing their taxable income by $46,700."
I would need to run a side by side comparison to see how much the taxes are reduced by in this scenario. That would have been a helpful calculation for AARP to have run but they didn't.
I may do the calc based on the 2024 actual rates just because I'm nerdy that way and like to know what the actual numbers are! If I do it later I will report back. ✌️
It expires in 4 years.
Have you heard there is no more factual news. Just more misinformation circulating the internet.
Life's too dang short for worrying. I'm all about fun and sun, Peace and calm .
If someone posted a thread on the negative side of BBB, I would of done the same, and said the same to administration.
I'm as calm as a cucumber 🥒.
If I was more calm, I'd be in a coma.. 🙏❤️💕😺
Social Security Applauds Passage of Legislation Providing Historic Tax Relief for Seniors
The Social Security Administration (SSA) is celebrating the passage of the One Big, Beautiful Bill, a landmark piece of legislation that delivers long-awaited tax relief to millions of older Americans.
The bill ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits, providing meaningful and immediate relief to seniors who have spent a lifetime contributing to our nation's economy.
“This is a historic step forward for America’s seniors,” said Social Security Commissioner Frank Bisignano. “For nearly 90 years, Social Security has been a cornerstone of economic security for older Americans. By significantly reducing the tax burden on benefits, this legislation reaffirms President Trump’s promise to protect Social Security and helps ensure that seniors can better enjoy the retirement they’ve earned."
The new law includes a provision that eliminates federal income taxes on Social Security benefits for most beneficiaries, providing relief to individuals and couples. Additionally, it provides an enhanced deduction for taxpayers aged 65 and older, ensuring that retirees can keep more of what they have earned.
Social Security remains committed to providing timely, accurate information to the public and will continue working closely with federal partners to ensure beneficiaries understand how this legislation may affect them.
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This email was sent to (me) by the Social Security Administration, and was produced and disseminated at U.S. taxpayer expense.
Calm down Daisy. There's plenty of negative info about our potus you can glom onto on CNN! This is GOOD news for most seniors in the USA.
Happy 4th everyone!
All of us seniors should be grateful to be able keep more of our hard earned money.
Promises made...promises kept.
I wish I could somewhere, somehow, someway get the facts on this bill and what it does, but all I get is the highlights from one side and the downlights from the other.
As I understand it this bill ALSO limits federal student loan amounts WHICH THIS LIBERAL is ALL FOR.
I loathe federally funded student loans and do not think the federal government has any place in any student loans ever at all.
It has been a money maker, however, and the colleges love it so much that no student can enter the hallowed halls without someone trying to force a federal student loan onto them.
My grandson's college was paid for by his two grannies on either side (me being one) yet he was plied with offers from day one; they were begging him to take out loans he had no need of.
Those loans aren't forgiven even when one reaches SS age, and won't be forgiven even if one goes bankrupt. They are banker's babies, and everyone loves them, so when I heard this bill limits them in amounts 100,000 normal (BS degreee) and 200,000 (higher education such as masters, doctorate) I was happy to hear it.
This thread is likely doomed.
Y'all know that, right?
We will get ourselves in a bicker between those of us who are liberals and those of us who are conservatives because no one wants to read, look and truly think anymore. Everyone just wants their own soundbite from their own talking head. FOX for some; CNN for others. I have a walking, talking one (sound bite with a side he's on) in my own household I happen to love dearly, but........................."
And having him has taught me to go and read.
And more and more that's what I am trying to do.
When the sound bite comes at me "No more energy tax credits for solar! How AWFUL" I go and read and get the real facts and learn nope, not that simple.
I worry about the deficit, but won't be around to see it, so there's that happy news, ha ha.
Whatever we all believe, I just ask this. Before or after you get your own particular soundbite from your own particular talking head, Right or Left. Go read. Make your own judgement. Hope for the best. Whatever YOU believe, there's a perfectly fine citizen on the other side who sees it a different way. Once that was OK in this country. I hope some day it is again.
And on we go.
This is political we do not need it, and nothing about caregiving!!!!
It's a misnomer on the part of the SSA to hint that it makes social security tax free, it adds an additional exemption amount which reduces taxable income for a certain segment of middle class seniors - - definitely a good thing - - that expires in 4 years.
It also comes on the backs of millions of poor and rural people (including seniors on medicaid a huge topic of conversation in these forums!) with zero cost to those who can most afford it. All they had to do was let the enormous estate tax exemptions that most of us will never reach expire to pay for a lot of this.
They also could have eliminated the step up in cost basis at death for the billions of dollars that are going to pass to adult "kids" who did literally nothing to earn it. The biggest welfare grift I've ever seen continues . I had clients who kids were set to inherit millions of shares of Exxon, Berkshire Hathaway, you name it - they can immediately sell and never pay a dime in taxes.
It's a good provision. There were also plenty of other ways to pay for it.