A post submitted by CGI member Morgan.

*********************************

Looks like it ain't happenin'. Well, another on the list of empty promises. What else is new? Glad I didn't vote.

##############

https://www.kiplinger.com/taxes/no-social-security-tax-cut-in-trumps-big-bill

As the Republican-led Congress pushes forward with President Donald Trump’s landmark 2025 mega tax bill, you may have noticed that a key campaign promise is, so far, noticeably absent.

During last year’s presidential campaign, Trump made several promises. One for retirees was that he would end federal taxes on Social Security benefits.

In several rallies and interviews, then-candidate Trump assured older adults that “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY!”

-----------

The alternative: Bonus 2025 standard deduction over 65?

Rather than eliminating taxes on Social Security, as Kiplinger has reported, the House GOP’s main offering is a bonus $4,000 standard deduction for those 65 and older. (It’s worth noting that in its version of Trump’s tax bill, the U.S. Senate has proposed an even higher bonus deduction boost of $6,000.)

Regarding the proposal, House Ways and Means Committee Chairman Rep. Jason Smith (R-Mo.) said in a statement, “Republicans are keeping President Trump’s promise to help seniors afford the cost of living through an expanded senior deduction in The One, Big, Beautiful Bill."

Here are some key points on how the enhanced extra standard deduction would work if approved by Congress and the President.

The "bonus deduction" would be available from 2025 to 2028

The full deduction would be available to those with income up to $75,000 (single filers) and $150,000 (joint filers), then would phase out above those levels and completely phase out at $175,000.

Eligible filers would be able to take the bonus tax deduction whether itemizing or not.

The bonus tax relief would stack on top of the existing extra standard deduction for those 65 and older.