Related: How the IRS taxes Social Security income in retirement. The new tax break is welcome news for the over 66 million Americans who collect Social Security income, including

Additionally, President Trump last month pushed Congress to approve a "big, beautiful" tax and spending bill that fulfills several other campaign promises. "In the coming weeks and months, we will pass the largest tax cuts in American history — and that will include no tax on tips, no tax on Social Security, and no tax on overtime," he said.

Despite promises to eliminate taxes on Social Security, benefits remain taxable in 2025 due to legislative and budget constraints.

Controversial changes at the Social Security Administration ramped up worries from Yahoo Finance readers. Here are some of your questions and comments.

The Social Security Administration recently made a slew of changes to reduce costs and improve customer service. President Trump has proposed exempting tips, overtime, and Social Security from federal income tax. Those changes to tax law could cause the Social Security Trust Fund to depleted sooner than anticipated.

Here’s everything you need to know about the SSA Full Retirement Age criteria and other Social Security policy changes in 2025.

TPC found that, on average, all income groups would benefit from the tax proposals. But more than two-thirds of the tax cuts would go to those making $217,000 or more.

The 389-page bill includes numerous tax provisions, including a top individual income tax rate of 37%. An AICPA statement addressed taxes paid or accrued by partnerships or S corporations.