House bill proposes making Social Security benefits tax-free
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Table of Contents
A bill was introduced in the House of Representatives to amend the Internal Revenue Code of 1986. The specific change would repeal the rule that includes Social Security benefits in gross income for tax purposes.
Why it matters: This is a significant financial change for many retirees, but it is currently just a proposal. If enacted, it would increase the after-tax income of millions of Social Security recipients and likely reduce federal revenue. For now, it is a legislative item that will undergo committee review, where it may be amended, voted on, or left to die.
Who it affects
- Retirees and current Social Security beneficiaries
The source is Congress.gov, the official legislative database for the U.S. Congress, and readers should check the original document for the full text and status updates.
Agency: House
Source: Congress.gov — read the official document