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Update on the “You Earned It, You Keep It” Initiative - Realtor.com
As many seniors are aware, “You Earned It, You Keep It” legislation is alive and well in the 119th Congress. H.R. 2909 (sponsored by Rep. Angie Craig D-MN) and S. 2716 (sponsored by Sen. Reuben Gallego D-AZ) are currently winding through the process. The bills, of course, seek to repeal the inclusion in gross income of social security benefits, often referred to as “double taxation” (which, according to some research sources, it technically isn’t). For additional commentary on these legislative initiatives, check out this post from The Realtor.com Team.
They to pass it.
Have done anything about yet?
Hi, the last action on this bill was: Referred to the Committee on Ways and Means, and in addition to the Committee on Energy and Commerce, for a period to be subsequently determined by the Speaker, in each case for consideration of such provisions as fall within the jurisdiction of the committee concerned.
Sincerely,
EM Cook
Social Security tax threshold was $34,000 in 1984 for a married couple and has never been adjusted for inflation. If it were indexed for inflation a married couple could claim $99,000 tax free now. How would congress like it if their wages were capped at 1984 levels? They are stealing retirees’ income. The government owes all retirees who paid taxes above inflation back pay in my opinion.
Hope they pass this bill soon! Social Security COLA doesn’t appear to be keeping up with inflation.
It would be nice if they cared as much about this as they do the illegal immigrants.
its about time, maybe the bill passes before i die. lol. get tired of uncle Sam there getting a big chunk of monies i earned and was taxed on already. do they want my movie tickets to sounds like they need my money more then me.