Way back in 2024, well before he was elected to his second nonconsecutive term as president, Donald Trump said the following on the Truth Social site: “SENIORS SHOULD NOT PAY TAX ON SOCIAL SECURITY.”
We suspect many senior citizens reach their full Social Security status, file to claim their benefits and find out they have to pay tax on that money.
Yep, a tax on a tax. Doesn’t seem right when you’ve already given up part of your paycheck ever since you started working.
Trump, now in office, recently reaffirmed his campaign pledge in saying he’d like to remove the tax on the 56% of Social Security recipients who are in line to have their tax taxed. According to the Tax Policy Center’s calculations, his plan would lower taxes for U.S. households by an average of $550.
As much as a Republican Congress would like to give the president a win on this proposal, and earn the praise of the million of seniors, the unsteady, tariff-bumpy economy might not make it possible.