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22.09.2025 12:37:00
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New Bill Would Eliminate Federal Taxes on Social Security Benefits
A great deal of thought goes into planning for retirement. For most, it means determining their sources of retirement income. And for 97% of older adults who either receive Social Security benefits or will receive them, Social Security is a critical part of planning. Unless Congress takes action, the Social Security trust fund will be depleted by 2034, causing the program to slash benefits by 19%. Earlier this month, Sen. Ruben Gallego, D-Arizona, introduced a bill called the You Earn It, You Keep It Act. In April, Rep. Angie Craig, D-Minnesota, introduced a House version of the bill. If it can gather enough support, the bill will permanently eliminate federal income taxes on Social Security benefits. Continue readingWeiter zum vollständigen Artikel bei MotleyFool