Trump proposes eliminating taxes on Social Security benefits for seniors

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Trump proposes eliminating taxes on Social Security benefits for seniors
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Trump made the announcement on his Truth Social platform. He wrote: “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!”

The taxation of Social Security began in 1984 with legislation signed by President Ronald Reagan. Seniors receiving Social Security income pay taxes on 50% of their income from the program, and in some cases, as high as 85% if their combined income from other sources pushes them above a certain threshold.The bill would be paid for by raising the cap on the Social Security payroll tax for high earners.

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