Does the "big, beautiful bill" eliminate taxes on Social Security?
CBSN
As Congress was approving President Trump's "big, beautiful bill" on Thursday, the Social Security Administration touted the legislation by stating that the legislation "eliminates federal income taxes on Social Security benefits for most beneficiaries."
That claim, which echoes previous promises by Mr. Trump to remove taxes on Social Security, may have come as welcome news for the millions of older and disabled people who depend on the program for income. So does the bill deliver? Not entirely.
In a press release, SSA said that the tax and spending package, which the president is set to sign into law on Friday, "ensures that nearly 90% of Social Security beneficiaries will no longer pay federal income taxes on their benefits."
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