H. R. 1040 is proposed legislation that aims to change tax law by removing Social Security benefits from being counted as gross income for tax purposes. Essentially, this means that people would no longer have to pay taxes on the Social Security benefits they receive. The...
Simple Explanation
H. R. 1040 is a plan to change the rules so people don't have to pay taxes on the Social Security money they get, like when Grandma and Grandpa receive checks, making sure it doesn't hurt the funds that help everyone in the future.