Saturday, January 11, 2025

No taxes on Social Security checks? Here’s what Trump’s campaign promise could mean for American retirees in 2025 (and beyond)

No taxes on Social Security checks? Here’s what Trump’s campaign promise could mean for American retirees in 2025 (and beyond)

Snippet of Article: "...Trump’s plan aims to eliminate these taxes entirely, allowing retirees to keep more of their monthly benefits. During the 2024 campaign, he framed this promise as part of his commitment to protect and support seniors. “Seniors should not pay taxes on Social Security and they won't," Trump said at a campaign rally in Harrisburg, Pennsylvania back in August, according to CBS. The message resonates with retirees burdened by rising costs of living and fears of outliving their savings...."

Source: moneywise.com