The One Big Beautiful Bill Act allows seniors in Georgia to deduct an additional $6,000 from their taxable income, increasing to $12,000 for married couples. This tax relief is designed to alleviate financial burdens on retirees facing rising costs. By 2025, 88% of Social Security recipients will pay no tax on their benefits, up from 64%. This provides significant financial relief, as Georgia's senior population of 1.8 million can expect increased disposable income while dealing with inflation and rising property taxes.
The deduction allows qualifying seniors to deduct an additional $6,000 ($12,000 for married couples) from their taxable income-on top of standard and existing senior deductions.
According to the White House, the One Big Beautiful Bill will result in 88% of all Social Security recipients paying no tax on their benefits.
This amounts to the largest tax break in history for America's seniors, the Council of Economic Advisers noted.
For seniors in Georgia, this represents a long-awaited cushion-especially as inflation, property insurance, and housing costs continue to climb.
Collection
[
|
...
]