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Does the "big, beautiful bill" eliminate taxes on Social Security?
What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.
The Social Security Administration circulated an imprecise email about the provisions in the new law. Here’s what it actually does.
Now that the tax and spending bill ahs been signed into law, how it will impact the finances of Americans is more clear.
An analysis by CRFB finds the Senate's One Big Beautiful Bill Act would hasten Social Security and Medicare trust fund ...
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