A Big Social Security Change Proposed by President Donald Trump May Be Bad News for Retirees

President Trump while on the campaign trail proposed eliminating taxes on Social Security benefits. "Seniors should not pay taxes on Social Security," he commented on social media in July. He reiterated the point during a Fox & Friends interview in August.Importantly, Trump is not the only politician to float that idea, nor is support limited to one political party. For instance, Rep. Angie Craig (D-Minn.) introduced a bill in January 2024 that would repeal the taxation of Social Security. And Rep. Thomas Massie (R-Ky.) introduced a bill in February 2025 with the same goal.However, Congress is unlikely to approve changes to Social Security tax law in the near future. And if the federal government did stop taxing benefit income, that seemingly positive change would come with a major downside for retired workers and other beneficiaries.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool