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Posted on 05/17/2025 10:41:20 AM PDT by Libloather
EXCLUSIVE: The top tax-writer in the House of Representatives is arguing that President Donald Trump's "big, beautiful bill" will be "big" for American taxpayers as well – including seniors.
House Ways & Means Committee Chairman Jason Smith, R-Mo., and other Republicans on the panel spent months negotiating behind closed doors on how to enact Trump's tax policies.
Among those is an added $4,000 deduction for Americans aged 65 or older. Seniors with income of less than $75,000 as single filers, and less than $150,000 as joint filers, would be eligible for the full deduction, which then would begin to phase out.
"So, that’s on top of their guaranteed deduction, and that’s per person . . . anyone who has total earnings of $75,000 a year or less is going to be made completely whole, so all the low-income and middle-income seniors on Social Security will be paying zero on Social Security in the long run," Smith told Fox News Digital, while adding of others, "most of them will be paying much less."
Republicans are using the budget reconciliation process, which lowers the Senate's threshold for passage from 60 votes to 51 for certain pieces of fiscal legislation, to advance a vast bill full of Trump's priorities on taxes, immigration, energy, defense and the national debt.
Because the House already operates under a simple majority, reconciliation allows the party in power to pass sweeping legislation while sidelining the other side, in this case, Democrats.
Trump has directed congressional Republicans to permanently extend his 2017 Tax Cuts and Jobs Act (TCJA), as well as implement new policies eliminating taxes on tips, overtime pay and retirees' Social Security.
But the law that established the reconciliation process, the Congressional Budget Act of 1974, also specifically forbade direct changes to Social Security via the process.
(Excerpt) Read more at foxnews.com ...
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What happened to no taxes on Social Security?
NOT anywhere close to no tax on Social Security….
Cut the $3+ trillion, 80%+ unconstitutional portion of the feds and tax cuts would be easy. The IRS would be a store front.
Naw, a few thousand in senior tax breaks isn’t worth the spending this bill allows. Most of the savings come 8-10 years out by which time no one will remember they were supposed to be cutting the deficit back in 2025. More smoke and mirrors, this time brought to you by the R’s.
The rich bitches get $80 tax deduction on their mansion’s property tax, you the peon, **might get up to** $4k deduction on your taxes.
4K
And the bill do not cut the budget one iota. Nothing is cut.
Meet the new Boss, same as the old Boss.
SImply disappointing.
When the dems started taxing ss did they change the 74 law or just implement a tax ?
What happened to no tax on social security. It’s great that they are considering a $4,000 deduction but I’m in my 80’s and still have to work to make ends meet. Since I’m self employed I’m still paying double into FICA and Medicare and taxed on top of that.
we need the DOGE cuts and all the USAID cut .....
Republicans have the opportunity to prevent that from happening now. If they do, they will get seniors' votes in the longterm. If they don't, they won't get seniors' votes in the longterm.
Republicans need to end all taxes on social security benefits and make that take effect ASAP.
According to Grok:
Social Security benefits can be taxed, depending on your income. If your combined income—adjusted gross income (AGI) plus nontaxable interest plus half of your Social Security benefits—exceeds certain thresholds, a portion of your benefits may be taxable:
Single filers: Combined income between $25,000 and $34,000: Up to 50% of benefits may be taxable. Above $34,000: Up to 85% may be taxable.
Married filing jointly: Combined income between $32,000 and $44,000: Up to 50% of benefits may be taxable. Above $44,000: Up to 85% may be taxable.
Republicans also need to refrain from messing with Medicaid in any way other than ensuring that it goes only to American citizens.
The problem is that many seniors don’t even pay much in taxes to begin with as there income is low. A far number already don’t pay taxes. So this does nothing for them.
Also keep in mind that some of the states are going to decide to tax things based on their own rules. The states could decide to tax SS income or tips even if the federal government does not. Personally I don’t agree with no tax on tips. There are some people who make several hundred dollars a day from tips. All this does is shift the load to other taxpayers who make even less money. That is not fair at all.
A bold-face campaign lie. The resulting reduction in Federal taxes will be a mere spit for most seniors.
This is total bullshit. This is NOT “no tax on Social Security benefits”. Hell, for me this is NOTHING! All it does is make it even harder to itemized deductions.
Gee… thanks
They changed the law when Clinton was President. I think in ‘93?
“..When the dems started taxing ss did they change the 74 law or just implement a tax?....”
It was back in the 1980s when then Senator Joe Biden’s flagship legislation to tas seniors’ SS benefits went into effect.
Like everything the communists do, they just did it.
FWIW, when it happened, It forced my dad back into the work force to make ends meet. He despised Biden with a passion over that. Can’t say as I blame him.
These gutless clowns today have the House, the Senate and the Presidency, and they can’t even repeal Joe Biden’s 1980s SS taxation law, let alone anything in the disaster he caused as POTUS. They could do it for America’s seniors right now today, but they won’t. they’re dispicable...no better than a 1980s Senator Joe Biden themselves.
Preseident Trump should do everything he can to force it to happen.
Stop taxing social security!
You promised.
We trusted you.
Then it will be a super economic boost to end the dammmmed income tax, period.
The tariffs can pay for the fed government like they did successfully for the first couple hundred years of USA
Interest on the national debt is spending.
The composite interest rate is about 3.4% (and rising). That’s on $31Trillion (not $37Trillion because $6 Trillion was bought by the Fed with money created from nothingness and is on deposit there (it refunds interest payments to Treasury).
That’s about $1.1Trillion in annual interest.
And rising.
With all the inflation those thresholds need to be raised. That might have helped, but no, they just couldn’t bring themselves to do something like that.
I did not ever work for a poor man.
Another Hand Out to Boomers is not the way to a brighter future. The richest quintile doesn’t need more.
$10K exemption per child would be a good start.
$10K School Debt forgiveness, or put it back into Bankruptcy so kids can get past the mistake of borrowing and start their lives.
How about boosting the personal exemption to $40K?
Or Assumable mortgages at existing low rates, if folks qualify?
Tariffs will do a whole bunch, but more gifts to Boomers ain’t it.
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