Social Security, Big Beautiful Bill and tax break
Digest more
The second round of July Social Security payments, worth up to $5,108 for the highest-income earners who retire at age 70, goes out to recipients today. When does the check arrive? Social Security payments usually begin on the second Wednesday of every month,
Senior citizens are getting a tax break in President Donald Trump’s sweeping tax and spending cuts package, but it’s not the one the president promised on the campaign trail last year.
The "Big Beautiful Bill" did not actually eliminate taxes on tips, overtime, or Social Security, but many people will be able to claim new income tax deductions that will reduce federal taxes on such income.
Imagine losing nearly a quarter of your monthly income just as you’re about to retire. That’s the reality millions of Americans could face if Congress doesn’t shore up Social Security before the trust fund runs dry in 2034.