‘Senior Bonus’ in Trump Agenda Bill Would Temporarily Provide Relief to Americans Over 65

‘The President and House Republicans are providing much needed tax relief to middle and low-income seniors,’ says Jim Martin, 60 Plus Association chairman.

The One Big Beautiful Bill Act, narrowly approved by the House of Representatives on May 22, includes a tax break for Americans older than 65 in the form of a temporary deduction of $4,000.

In lieu of President Donald Trump’s campaign pledge to eliminate taxes on Social Security benefits, this deduction, called the “senior bonus,” would offer a smaller tax cut, targeted to benefit lower-income seniors.

The House bill allows seniors, whether they take the standard deduction or itemize their returns, to deduct an additional $4,000 from their taxable income. It phases out for single filers earning more than $75,000, or $150,000 for taxpayers filing jointly.

The deduction would last from 2025 through 2028. For those who qualify the deduction reduces taxable income and is distinct from a tax credit, which would be a dollar-for-dollar reduction in taxes.

Read more at The Epoch Times