Social Security Under New “Big Beautiful” Tax Provision
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Roughly 400,000 Utah retirees are expected to gain from a new federal tax deduction that eliminates Social Security income taxes for most recipients starting in 2026. The One Big Beautiful
Trump's flagship tax and spending law is expected to have a material (and adverse) impact on America's leading retirement program.
As Social Security can be a big part of seniors' income, that deduction could make part of those benefits tax-exempt. But the break won't be universal to all beneficiaries.
Roughly 1.1 million Wisconsin retirees are set to benefit from a new federal deduction that phases out taxes on most Social Security income starting in 2026. The One Big Beautiful Bill
Consider Social Security. The White House issued a statement on July 1 saying that "Under the One Big Beautiful Bill, the vast majority of senior citizens — 88% of all seniors who receive Social ...