The recent legislative move to increase the standard deduction for seniors under Trump's administration aims to provide significant tax relief to retirees, particularly benefiting those with lower incomes.

In 1983, with Social Security's asset reserves virtually exhausted, a bipartisan Congress passed, and then-President Ronald Reagan signed, the Social Security Amendments of 1983 into law. This amendment gradually increased the full retirement age and payroll taxation on working Americans, as well as introduced the utterly despised tax on benefits.

The One Big Beautiful Bill is a massive proposed tax and spending package loaded with initiatives that align with Trump’s agenda. As it’s currently written, the bill includes major changes to Medicaid, food stamps, border security, taxes and more that have the potential to affect millions of Americans.

The recent passage of the 'Big Beautiful Bill Act' by the U.S. House, backed by President Trump, increases the standard deduction for seniors but leaves Social Security taxes intact. Despite campaign promises,

The apparent fact that the new Social Security commissioner, up until recently, had no idea what his job entailed does not inspire confidence.

President Donald Trump's head of the Social Security Administration (SSA), Frank Bisignano, admitted in a town hall with agency managers this week that he was not looking for a job at the time and that he had searched Google to learn what exactly the position entails.

Newly sworn-in Social Security chief Frank Bisignano, who previously was a Wall Street executive, told staffers he had to Google the SSA job when it was offered to him.

During his campaign, Trump promised to eliminate taxes on Social Security benefits for seniors. However, the current Republican fiscal proposal tells a different story, offering a modest $4,000 tax deduction instead.