Posted on 10/24/2025 8:19:42 AM PDT by wardamneagle
Just information. The SSA website has an announcement at the bottom of the page. lol
People getting a monthly Social Security check will see the amount increased by 2.8% in January of 2026 for COLA (Cost of Living Adjustment)
“Tucked inside the “One Big Beautiful Bill,” signed into law by President Donald Trump on July 4, 2025, is a $6,000 tax deduction for individuals aged 65 and older. For couples filing jointly, both partners can claim the deduction if eligible, reducing taxable income by up to $12,000. The benefit is set to run from 2025 through 2028.
It doesn’t rewrite how Social Security is taxed, but by trimming taxable income on paper, the law could pull millions of retirees below the threshold (below $25,000 in income for individuals or $32,000 for couples), where those benefits get taxed, at least for now.”
Forbes
Agreed. But the 65 year old boost in standard deduction applies to all income types, not just SS. So it doesn’t impact the early vs late collection of SS debate.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.