Trump's big bill could affect your taxes
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The House of Representatives is advancing the "One Big Beautiful Bill Act," a comprehensive tax and spending package that includes several provisions directly affecting senior citizens. While the bill offers certain tax benefits for older Americans, it also proposes cuts to programs that many seniors rely on.
After the House Budget Committee advanced the One Big Beautiful Bill on Sunday, lawmakers met Monday to lessen some cuts to federal workers’ retirement benefits, by delaying and grandfathering in implementation of some new proposals.
During the marathon Ways and Means Committee meeting scrutinizing the new Republican tax bill, Rep. John Larson (D-Conn.) asked Joint Committee on Taxation Chief of Staff Thomas Barthold about key details,
House Republicans have included a proposal in their tax bill to provide a $4,000 deduction for individuals ages 65 and up. Here's what it may mean for retirees.