You Earned It, You Keep It
There is a proposal in the House to eliminate federal taxes on SS, paying for it by increasing the SS tax base from 2024's $168,600 to "over $250,000" (what exactly that means I'm not sure and haven't been able to find out with my online research...) which is projected to not only pay for the proposal but also provide full payments through 2054 (vs. the current projection of 2034).
https://www.kiplinger.com/taxes/will-tax-on-social-security-benefits-be-eliminated
The bill: https://craig.house.gov/sites/evo-s.../files/evo-media-document/craig_035_xml17.pdf
I admit, I am unable to wade through the 18 pages of legalese in the bill. Can anyone here who is more skilled in legalese translate it into English?
You'd think that SS proposals would have more bandwidth than this.
There is a proposal in the House to eliminate federal taxes on SS, paying for it by increasing the SS tax base from 2024's $168,600 to "over $250,000" (what exactly that means I'm not sure and haven't been able to find out with my online research...) which is projected to not only pay for the proposal but also provide full payments through 2054 (vs. the current projection of 2034).
https://www.kiplinger.com/taxes/will-tax-on-social-security-benefits-be-eliminated
The bill: https://craig.house.gov/sites/evo-s.../files/evo-media-document/craig_035_xml17.pdf
I admit, I am unable to wade through the 18 pages of legalese in the bill. Can anyone here who is more skilled in legalese translate it into English?
You'd think that SS proposals would have more bandwidth than this.