Rep. Thomas Massie has introduced a bill to exempt Senior Citizens from taxes on Social Security retirement payments.

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Rep. Thomas Massie has introduced the Senior Citizens Tax Elimination Act (H.R. 3206), which aims to exempt senior citizens from paying taxes on their Social Security retirement benefits. Here are the key points of the bill:

  • Elimination of Double Taxation: The bill seeks to repeal the inclusion of Social Security benefits in an individual’s gross income, effectively eliminating the federal income tax on these benefits.
  • Boost to Retirement Income: By removing the tax on Social Security benefits, the bill aims to increase the retirement income of millions of older Americans.
  • Historical Context: Before 1984, Social Security benefits were exempt from federal income tax. The bill aims to return to this policy, arguing that seniors have already paid taxes on their Social Security contributions via payroll taxes.
  • Support and Co-Sponsors: The bill has garnered support from several members of Congress who believe that taxing Social Security benefits is unfair to seniors who rely on these benefits for their basic needs.
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Sources:
https://massie.house.gov/news/documentsingle.aspx?DocumentID=395548

https://massie.house.gov/news/documentsingle.aspx?DocumentID=395250

https://www.congress.gov/bill/118th-congress/house-bill/3206/all-info