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Repeal Income Tax on Social Security? What Retirement Experts Think of New Bill
Analysis January 31, 2024 at 04:58 PM
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What You Need To Know
- The You Earned It, You Keep It Act would end federal income tax on Social Security benefits while phasing out the payroll tax cap.
- Retirement planning experts say the fundamentals of the proposal are sound but a broader approach may ultimately be needed.
- While passage in the short term appears unlikely, the legislation could serve as a stepping stone in future Congresses.
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