Though Trump pledged to eliminate these income taxes on benefits, it's not solely within his power as president to do so. Congress would have to pass a law eliminating this tax, and even with Republicans controlling the House and Senate, it could still be difficult to pull this off.

President-elect Donald Trump is set to retake office in a little over a month after winning the election over Vice President Kamala Harris in November. Trump's campaign made many promises, but one particularly interesting promise to retirees was his pledge to eliminate Social Security benefit taxes.

People who receive income from public pensions may have their Social Security benefits reduced. The Senate may soon vote to eliminate those rules.

It's smart to get at least a rough idea of how much income you can expect from Social Security so that you can plan accordingly.

Social Security is the U.S. government's biggest program; as of June 30, 2024, about 67.9 million people, or one in five Americans, collected Social Security benefits. This year, we're seeing

Social Security benefits will increase by 2.5% beginning in 2025. The wage base limit will increase to $176,100 in 2025. Only income up to that wage base limit is subject to Social Security tax. One thing people quickly notice about Social Security is that change is virtually inevitable.

Among the changes Social Security recipients will see in 2025 is a higher full retirement age. The number marks the age at which workers become eligible to claim 100 percent of their retirement benefit based on lifetime earnings.