Social Security Under New “Big Beautiful” Tax Provision
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The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older. The deduction could be up to $6,000 for an individual tax filer and up to $12,000 for a married couple if both spouses qualify.
Roughly 100,000 retirees in Vermont are set to benefit from a new federal tax deduction that eliminates Social Security income taxes for most seniors beginning in 2026.
Social Security changes in 2026 include a COLA increase, higher retirement age, and tax changes tied to Trump’s new law.
A new analysis from the Social Security Administration’s Office of the Chief Actuary warned that the recently enacted “One Big Beautiful Bill Act” will worsen the already existing challenges facing Social Security’s trust funds, accelerating their projected depletion by several months and deepening the programs’ financial woes. The analysis stated that because the funds rely on ...
Roughly 400,000 Utah retirees are expected to gain from a new federal tax deduction that eliminates Social Security income taxes for most recipients starting in 2026. The One Big Beautiful
Last week, on August 14, 2025, the Social Security Act celebrated its 90th anniversary — a milestone for one of the United States’ most important so-called safety nets. The program has lifted millions of older adults out of poverty, steadied some households through economic shocks, and provided dignity for many in retirement.