Seniors in the Workforce Tax Relief Act
Introduced Jan 20, 2025 by Rep. Don Bacon
It's waiting on a committee vote to reach the full chamber. Most bills never leave this stage.
This bill establishes a new above-the-line federal tax deduction through 2029 for individuals who attain the age of 65 before the end of the tax year. (Above-the-line deductions are subtracted from gross income to calculate adjusted gross income.)
Under the bill, the amount of the tax deduction is $25,000 for individuals (or $50,000 for joint filers and surviving spouses) and begins to phase out for individuals with an adjusted gross income over $100,000 (or $200,000 for joint filers and surviving spouses).
Summary by the Congressional Research Service.
No floor votes yet — it hasn't reached the floor of either chamber.