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Kelley R. Taylor

Could the New $6,000 Senior Bonus Tax Deduction Hurt Social Security?

Social Security Donald Trump IRS

A Social Security card cut in half with the United States Capitol building on it.

Touted by the Trump administration as "eliminating taxes on Social Security," the new, temporary "senior bonus deduction" is adding to concerns about Social Security's solvency, even as a COLA increase is expected for the coming year.

When President Donald Trump and Republicans in Congress passed the so-called "big beautiful bill" last year, one of the most talked-about provisions was a new, but temporary, bonus deduction for older adults.

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