the 50% rate, or to no taxa- tion at all, depending on their overall taxable income.


The One Big Beautiful Bill


(OBBB) signed into law by Pres- ident Donald Trump on July 4, 2025, reverses some of these taxes. It allows seniors to keep thousands more from their So- cial Security check without fi ll- ing out a single extra form. The OBBB gives seniors a


$6,000 tax deduction, reducing or eliminating federal income taxes on Social Security ben- efi ts for many recipients. The OBBB introduces a


$6,000 deduction for individu- als 65 and older, or $12,000 for married couples where both spouses are 65 or older. It’s available whether seniors item- ize or take the standard deduc- tion, and it applies to tax years 2025 through 2028. This deduction falls by 6%


for single fi lers earning more than $75,000 annually or joint fi lers over $150,000. It does not apply to individuals earning $175,000 or couples $250,000 annually. For example, a single se-


nior with an adjusted gross income of $85,000 receives a $5,400 deduction; a couple with $120,000 receives the full $12,000 deduction. The OBBB also creates


“Trump Accounts” for kids, or $1,000 savings accounts, for each U.S. citizen born between Jan. 1, 2025, and Jan. 1, 2029. Cash for these Trump Ac-


counts will be deposited into a private custodial investment account that grows tax-free un- til children reach adulthood. Parents, churches, chari-


ties, and employers can also contribute up to a combined $5,000 annually. Supporters say these could


help teach families about in- vesting, ownership, and fi -


66 NEWSMAX | OCTOBER 2025


The OBBB gives seniors a $6,000 tax deduction, reducing or eliminating federal income taxes on Social Security benefi ts for many recipients.


nance, enabling stronger per- sonal fi nances that put Social Security on a better trajectory. The nearly $3 trillion Social


Security Trust Fund is invested exclusively in U.S. Treasury securities. These are safer but generate much lower returns, and with infl ation sometimes create negative returns. In 2005, President George


W. Bush proposed allowing people to invest some of their own payroll taxes in private accounts and was excoriated in the media, causing him to back down. Fast-forward 20 years, to


a bipartisan Senate bill intro- duced in July by Sens. Bill Cas- sidy, R-La., and Tim Kaine, D-Va., that would create a sep- arate trust fund that could in- vest in private business rather than government bonds. Their hope is the fund


could spark greater returns to combat falling worker-to- retiree ratios. “The result? The consis- tent delivery of Social Secu-


rity benefi ts for generations of Americans, and a reduction to the United States’ long-term in- debtedness by up to 20%,” the senators wrote in a Washington Post opinion piece introducing their proposal. “We propose creating an ad-


ditional investment fund — in parallel to the trust fund, not re- placing it — that would be invest- ed in stocks, bonds, and other in- vestments that generate a higher rate of return, helping keep the program from running dry.” The senators propose a $1.5


trillion up-front investment to start the fund, and giving the fund 75 years to grow. The senators cite a successful simi- lar case study starting in 2001, when Congress created the National Railroad Retirement Investment Trust, a diversifi ed investment fund designed to ensure retirement benefi t pay- outs for railroad workers.


Carrie Sheffield is author of Motorhome Prophecies: A Journey of Healing and Forgiveness.


BRENDAN SMIALOWSKI/POOL/AFP VIA GETTY IMAGES


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