Ending Income Tax on Social Security Benefits for Seniors
This bill aims to eliminate income tax on Social Security benefits for senior citizens. This means retirees and beneficiaries will no longer pay federal income tax on these payments. Social Security and Railroad Retirement Act trust funds will remain financially stable through government appropriations, without increasing other taxes.
Key points
Eliminates federal income tax on Social Security benefits for seniors, potentially increasing their disposable income.
Ensures Social Security and Railroad Retirement Act trust funds are not negatively impacted, with funding covered by the Treasury.
Congress states that no tax increases will be used to fund this change.
Status:
Expired
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