The One Big Beautiful Bill Act (OBBBA) introduces a senior deduction of $6,000 for individuals and $12,000 for married couples, aimed at providing financial relief for Minnesota retirees. Approximately 1 million of them are expected to avoid federal income tax on Social Security benefits, increasing the proportion from 64% to 88%. For 2026, single seniors could benefit from a total federal deduction of $23,750, while qualifying couples could see $46,700. Additionally, this law is projected to boost real wages and take-home pay for workers, benefiting aging households.
The One Big Beautiful Bill Act (OBBBA) introduces a senior deduction of $6,000 for individuals and $12,000 for married couples, ensuring 88% of seniors avoid federal tax on Social Security benefits.
The White House called it "the largest tax break in history for America's seniors," aiming to help retirees save more of their money after years of contributing to Social Security.
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