You Earned It, You Keep It Act
Key claim: This bill would make Social Security benefits fully tax-free for federal income-tax purposes, so recipients would no longer owe income tax on those benefits.
Abstract
(HR7084 · 118th Congress) You Earned It, You Keep It Act This bill excludes Social Security benefits from gross income for purposes of federal income taxes. Latest action (2024-12-17): Referred to the Subcommittee on Social Security.
Why this matters
Federal income taxation of Social Security benefits is a recurring flashpoint for retiree tax policy, and full-exclusion bills like this one represent the maximalist version of relief compared with partial fixes such as indexing the taxation thresholds. Tracking such proposals — even those that die in subcommittee — helps map the range of options and the constituencies pushing them. It also matters for revenue: benefit taxation currently flows back into the Social Security and Medicare trust funds, so full exclusion has downstream program-financing implications.