Social Security, Beautiful Bill
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One of the marquee promises of President Donald Trump's One Big Beautiful Bill Act (OBBBA) was the elimination of taxes on Social Security benefits. But as analysts scrutinize the
What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.
Florida did not expand Medicaid as most states did, so the impact may be lesser than other places, but reductions loom.
President Donald Trump will meet with his Cabinet at the White House at 11 a.m. Tuesday for the first time after signing the One Big Beautiful Bill Act late last week. Trump signed the sweeping legislation on Friday’s Fourth of July holiday,