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.

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

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.

Trump reversed former President Joe Biden's overpayment and recovery rules by implementing a 50% clawback rate on a person's monthly benefit until the overpayment is recovered in full. The president nominated Frank Bisignano to become the new SSA commissioner.

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

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

As Congress deliberates these proposals, the potential impact on taxpayers, businesses, and the broader economy remains a subject of intense debate.