The Big Social Security Change President Donald Trump Wants to Make and Why It's Unlikely
President Trump during his recent campaign proposed eliminating taxes on Social Security benefits. "Seniors should not pay taxes on Social Security," he wrote on his social media platform in July. Trump then reiterated the point during a Fox & Friends interview in August.The president has seemingly doubled down on his proposal since his returning to Washington. In February, White House Press Secretary Karoline Leavitt said the Trump administration is committed to implementing the "largest tax cut in history," which includes ending taxes on Social Security.While I agree that beneficiaries should not pay taxes on Social Security, I doubt Congress will approve that change anytime soon. Here are the important details.Continue reading
President Trump during his recent campaign proposed eliminating taxes on Social Security benefits. "Seniors should not pay taxes on Social Security," he wrote on his social media platform in July. Trump then reiterated the point during a Fox & Friends interview in August.
The president has seemingly doubled down on his proposal since his returning to Washington. In February, White House Press Secretary Karoline Leavitt said the Trump administration is committed to implementing the "largest tax cut in history," which includes ending taxes on Social Security.
While I agree that beneficiaries should not pay taxes on Social Security, I doubt Congress will approve that change anytime soon. Here are the important details.
