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Tax Relief for Working Seniors: New Income Deduction

This act introduces a new tax deduction for individuals aged 65 and older who are still working. This allows them to reduce their taxable income, potentially leading to lower taxes for eligible seniors. These changes apply to tax years beginning after December 31, 2024, and are set to expire at the end of 2029.
Key points
Individuals aged 65 and over can deduct up to $25,000 from their adjusted gross income.
For joint filers or surviving spouses, the deduction limit is up to $50,000 if both individuals meet the age requirement.
This deduction is available whether or not the taxpayer itemizes other deductions, making it easier to claim.
The deduction amount is reduced if adjusted gross income exceeds $100,000 for individuals or $200,000 for joint filers.
These provisions are temporary and will not apply to tax years beginning after December 31, 2029.
article Official text account_balance Process page
Introduced
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Additional Information
Print number: 119_HR_559
Sponsor: Rep. Bacon, Don [R-NE-2]
Process start date: 2025-01-20
Lustra uses Artificial Intelligence. Verify details in source documents.
Summarized by: gemini-2.5-flash
Source data: api.congress.gov
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OFFICIAL LEGAL TITLE

Seniors in the Workforce Tax Relief Act

FREQUENTLY ASKED QUESTIONS

What is the official ID of this bill?

The official print number for this legislation is 119_HR_559.

Which chamber initiated this legislation?

This legislation was initiated in the House of Representatives.

When did the legislative process begin?

The process officially started on 2025-01-20.

What are the main provisions?

Key points include:

  • Individuals aged 65 and over can deduct up to $25,000 from their adjusted gross income.
  • For joint filers or surviving spouses, the deduction limit is up to $50,000 if both individuals meet the age requirement.
  • This deduction is available whether or not the taxpayer itemizes other deductions, making it easier to claim.
  • The deduction amount is reduced if adjusted gross income exceeds $100,000 for individuals or $200,000 for joint filers.
  • These provisions are temporary and will not apply to tax years beginning after December 31, 2029.
What is the specific legal status?

The current status is Introduced.

Where can I read the full text of this legislation?

The full official text is available at: View full text

Who is the primary sponsor?

The primary sponsor is Rep. Bacon, Don [R-NE-2].

What is the latest detailed status?

The latest detailed status is: Referred to the House Committee on Ways and Means.

Is this summary verified?

Yes. This content was analyzed by AI and verified by the Lustra Judge System on 2025-12-23.

CATEGORIES

Taxes Labor