The Senate version of the One Big Beautiful Bill Act includes a temporary enhanced deduction for seniors ages 65 and up. The House of Representatives also proposed such a tax break in its text, calling it a “bonus.”
Notably, the Senate is calling for a deduction of up to $6,000 per qualifying individual. The House included a $4,000 deduction.
The senior “bonus” is in lieu of the elimination of taxes on Social Security benefits that President Donald Trump pitched on the campaign trail. The Republicans’ tax bill is being done through reconciliation, a process that generally prohibits changes to Social Security.
The White House has said the proposed deduction is a “historic tax break” for seniors.
The full deduction amount would be available to individuals with up to $75,000 in modified adjusted gross income, and $150,000 if married and filing jointly.
