Social Security beneficiaries could see tax relief as proposed bill to extend trust fund gains momentum
A proposed bill introduced by U.S. Reps. Angie Craig and Yadira Caraveo aims to alleviate the tax burden on Social Security beneficiaries and extend the solvency of the program’s Old Age and Survivors Insurance (OASI) Trust Fund. The bill, known as the “You Earned, You Keep It Act,” seeks to eliminate federal taxes on Social Security benefits and delay the exhaustion of the OASI Trust Fund until 2054. Under the proposed legislation, Social Security payroll …