Former Rep. Mary Peltola ran a campaign against Nick Begich saying he would end Social Security. It was one of her biggest attacks on him.
Instead, Congressman Begich is trying to end the federal income tax on Social Security benefits.
The Senior Citizens Tax Elimination Act, H.R. 1040, would eliminate federal income taxation on Social Security benefits. The bill seeks to relieve middle-class seniors from what Congressman Begich describes as an “unjust double taxation” on their retirement income.
Peltola advocated for higher taxes on Social Security when she was in office. Begich favors lower taxes.
“After years of poor returns, the least we can do is make sure we end the practice of unjust double taxation on retirees. The money paid into social security belongs to those who paid into the system. As I made clear during the campaign, making sure that retiree programs like social security are protected from federal bureaucrats is a top priority,” Congressman Begich said.
According to the Congressional Research Service, prior to 1984, Social Security benefits were exempt from federal income taxation. However, subsequent legislation introduced a phased taxation system, wherein a portion of Social Security benefits became taxable as an individual’s income increased above a certain threshold.
The bill’s prime sponsor is Congressman Thomas Massie, a conservative Republican from Kentucky’s 4th Congressional District.
Congressman Massie recognized Begich joining as a co-sponsor: “Thank you to @RepNickBegich for cosponsoring H.R. 1040, the Senior Citizens Tax Elimination Act. This bill assists middle-class seniors by eliminating the unjust double-tax on Social Security benefits.”
Massie said that although seniors have already paid tax on their Social Security contributions via the payroll tax, they are still required to list these benefits as taxable income on their tax returns.
“This is simply a way for Congress to obtain more revenue for the federal government at the expense of seniors who have already paid into Social Security. My bill would exempt Social Security retirement benefits from taxation and boost the retirement income of millions of older Americans,” he said.
The proposed legislation has gained support from organizations like the Association of Mature American Citizens (AMAC) Action.
“Every year, millions of seniors become eligible for either Social Security or tier I railroad retirement benefits. After working for decades, paying taxes on their hard-earned income to fund these federal programs, some seniors are forced to pay income tax on the benefits they receive from the federal government. Taxing benefits which were created from already taxed funds is nonsensical and curtails retirement benefits seniors have been promised. Seniors deserve to reap the full benefits of their hard work from career-long contributions to Social Security and the Railroad Retirement Plan,” said Andy Mangione, Senior Vice President of AMAC Action.
NB3 is clearly out-performing Daddy’s Little Princess, by a long-shot.
He would make a great replacement to her, much more deserving!
Thank you Congressman Nick. Thank you for being MAGA.
YES PLEASE♥️♥️♥️
Not that it really matters, but where did Mary Peltola end up? Is she shacked up with Jeffries in DC, or did she finally find another boyfriend and move to NYC to be closer to Sarah Palin? One thing for sure, she ain’t moving back to Bethel.
Name one person who would like “to move back to Bethel”.
What chance does this legislation have? Now we find out of Republicans will stab us in the back. Rs control the House, the Senate, and the White House. If we can’t see common sense legislation like this passed, then we know who is really on our side.
Does the upper income, rretirement crowd need to be bought off to help garentee that Begich is not a one term rep? I don’t think so. Nick Begich how about you focus on reducing spending and regulations first.
If Nick can stay clear of repub party establishment, much like the Man, the Myth, the Legend that is Thomas Massie, Nick will do Alaska favorably.
No income tax period. No capital gains tax period. No welfare for working age people period. No property tax period. My money, My choice period.
Definitely a winner right out of the gate, Nick is. I am not surprised at all that he got onboard this train to end Social Security taxes … Trump campaigned on it and it’s happening baby!!!
Alaska has a majority of old-timers on SS, so this will help tremendously … I might be able to ween myself off that bargain-brand cat-food after all … 🙂