HR 559
Seniors in the Workforce Tax Relief Act
Summary
Seniors in the Workforce Tax Relief Act 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).
Bill status
- Status
- In committee
- Sponsor
- Rep. Don Bacon [R-NE-2]
- Cosponsors
- 0
- Policy area
- Taxation
- Introduced
- 2025-01-20
- Latest action
- 2025-01-20: Referred to the House Committee on Ways and Means.
Committee referrals
Recent actions
- 2025-01-20: Referred to the House Committee on Ways and Means.
- 2025-01-20: Introduced in House
- 2025-01-20: Introduced in House