President Trump's plan to end Social Security benefit taxation could save seniors money but harm solvency.

From Nasdaq: 2025-03-15 18:00:00

Many seniors feel they shouldn’t owe taxes on their Social Security benefits due to already paying Social Security payroll taxes. President Trump supports a bill to eliminate this tax, potentially saving seniors over $3,000 annually. However, this could deplete Social Security trust funds sooner, affecting future benefits. The current projection is for trust funds to run out by 2035, but recent legislation has accelerated this timeline. Congress must consider the impact of eliminating benefit taxes on Social Security’s solvency before passing the bill.

Source: https://www.fool.com/retirement/2025/02/27/social-security-retirees-good-news-bigger-benefits

If you’re behind on retirement savings, maximizing Social Security benefits could give you a $22,924 bonus yearly. Understanding these “Social Security secrets” could significantly boost retirement income and provide peace of mind. Learning how to optimize Social Security benefits can help you retire confidently and secure your financial future.

Source: https://www.fool.com/mms/mark/e-sa-social-security/



Read more at Nasdaq: President Donald Trump’s Plan to End Social Security Benefit Taxation Would Solve 1 Problem While Exacerbating Another