Social Security raises revenue through a dedicated tax on employees and employers, evenly splitting the cost of 12.4 percent — so ... Security paid out about $1.47 trillion in benefits in ...

Retired Americans receiving Social ... Security, likely because up to 85 percent of benefits can be taxed. Nine states still collect taxes on benefits. While there is no mention of a tax cut ...

Though the SSA expects to save more than $800 million in 2025, this is a drop in the bucket compared to the $1.392 trillion ... for things like Social Security payments and tax refunds.

The House passed the Big Beautiful Bill Act, a tax plan backed by President Trump. Despite campaign promises, the bill does not eliminate taxes on Social Security benefits. It does include a ...