Social Security, Trump and Child tax credit
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The One Big Beautiful Bill is a massive proposed tax and spending package loaded with initiatives that align with Trump’s agenda. As it’s currently written, the bill includes major changes to Medicaid, food stamps, border security, taxes and more that have the potential to affect millions of Americans.
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Explícame on MSNGOP boosts standard deduction for seniors with Trump's tax law, Social Security taxes remainThe recent passage of the 'Big Beautiful Bill Act' by the U.S. House, backed by President Trump, increases the standard deduction for seniors but leaves Social Security taxes intact. Despite campaign promises,
President Donald Trump's head of the Social Security Administration (SSA), Frank Bisignano, admitted in a town hall with agency managers this week that he was not looking for a job at the time and that he had searched Google to learn what exactly the position entails.
The apparent fact that the new Social Security commissioner, up until recently, had no idea what his job entailed does not inspire confidence.
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Explícame on MSNHow Trump's Social Security standard deduction could increase benefits low-income retireesThe recent legislative move to increase the standard deduction for seniors under Trump's administration aims to provide significant tax relief to retirees, particularly benefiting those with lower incomes.
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The Mirror US on MSNSocial Security income tax deduction clears 'critical hurdle' with major ramificationsThe new house legislation will change standard tax deduction for seniors over 65 as part of the 'One Big Beautiful' bill
In 1983, with Social Security's asset reserves virtually exhausted, a bipartisan Congress passed, and then-President Ronald Reagan signed, the Social Security Amendments of 1983 into law. This amendment gradually increased the full retirement age and payroll taxation on working Americans, as well as introduced the utterly despised tax on benefits.
Newly sworn-in Social Security chief Frank Bisignano, who previously was a Wall Street executive, told staffers he had to Google the SSA job when it was offered to him.
The chaos at the the agency began shortly after acting commissioner Michelle King stepped down in February, a move that came after DOGE sought access to Social Security recipient information. That prompted a lawsuit by labor unions and retirees, who asked a federal court to issue an emergency order limiting DOGE’s access to Social Security data.