Social Security, One Big Beautiful Bill
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Many Americans received an email from the Social Security Administration applauding the megabill's passage. Experts say it was misleading.
What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.
President Donald Trump will meet with his Cabinet at the White House at 11 a.m. Tuesday for the first time after signing the One Big Beautiful Bill Act late last week. Trump signed the sweeping legislation on Friday’s Fourth of July holiday,
A Washington Post article reprinted in the Star Tribune (“Social Security email raises eyebrows,” July 6) held the Social Security Administration accountable for a less-than-accurate email stating the Big Beautiful Bill eliminated federal income taxes on Social Security benefits.
The Big Beautiful Bill, officially signed into law on July 4, makes major changes to the tax code this year. After significant jaw-boning and contentious debate, President Donald Trump successfully won enough support in the House and Senate to usher the 900-plus page One Big Beautiful Bill Act across the finish line.
When Americans can no longer trust the information it receives from the Social Security Administration, there's a problem.
There’s a lot to unpack in the multi-trillion-dollar, 887-page package, from tax breaks and social safety net cuts to billions more for defense, the border wall and deportations. The Press Democrat wants to hear from our readers to help shape our coverage.
Wealth managers see a lot to like in President Donald Trump’s newly passed tax and spending bill, especially for wealthier clients.