Search Results: keywords:"senior citizens tax elimination act"

  • H. R. 1040 — To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.
    Status:Introduced in House
    Words:463

    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.

  • S. 458 — To amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.
    Status:Introduced in Senate
    Words:336

    S. 458 is a proposed legislation introduced in the 119th Congress. The bill aims to amend the Internal Revenue Code of 1986 by repealing the rule that includes Social Security benefits as part of a person's gross income for tax purposes. This change would mean that Social...

    Simple Explanation

    This bill wants to stop making people pay taxes on the money they get from Social Security, like how Grandma gets her check each month. It says that the government should not raise taxes to make up for the money they won't get because of this change.