The No Tax on Restored Benefits Act stops the government from taxing specific Social Security benefits that people will receive in 2025. This helps ensure that individuals can keep more of their money during that time.
If you receive Social Security benefits from the Fairness Act, you won't have to pay taxes on them in 2025.
Who this affects
Individuals receiving Social Security benefits
What changes is this bill making?
1This bill removes taxes on certain Social Security benefits.
2It specifically applies to benefits from the Social Security Fairness Act of 2023.
3The tax exclusion is for payments received between January 1, 2025, and December 31, 2025.
4It aims to help individuals receiving these specific Social Security payments.
5The bill changes the tax code to support these beneficiaries.
