A New Bill Aims to Fix Social Security by Eliminating Taxes on Benefits

A New Bill Aims to Fix Social Security by Eliminating Taxes on Benefits

- in Contributors, Featured, Income, Retirement, Social Security, Taxes
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Asmall group of lawmakers wants to eliminate taxes on Social Security benefits as part of a proposal they claim could help fund the flagging program.

Rep. Angie Craig, D-Minn., introduced the You Earned It, You Keep It Act in the House of Representatives in late January. It involves both sides of the taxation process: In addition to ending the federal taxes on the Social Security payments received by about 70 million Americans every month, the bill would also significantly increase how much of someone’s wages are subject to Social Security taxes in a year.

Read more at MONEY

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