S. 1109 proposes a temporary reduction in the taxable portion of Social Security and tier 1 railroad retirement benefits for the years 2026 and 2027. The bill amends Section 86 of the Internal Revenue Code, allowing beneficiaries to exclude an additional 10% of these benefits...
Simple Explanation
S. 1109 is a plan to let people keep a bit more money when they get their Social Security or railroad retirement checks in 2026 and 2027, but it doesn't fully explain how to make sure the trust funds stay healthy.