Skip to main content
Thursday, May 8, 2025
Home
Omaha Daily Record
  • Login
  • Home
  • Subscribe
  • Calendar
    • Real Estate
    • Small Business
    • Non-Profit
    • Political
    • Legal
  • Podcasts
    • Real Estate
    • Small Business
    • Non-Profit
    • Political
    • Legal
  • Profiles
    • Real Estate
    • Small Business
    • Non-Profit
    • Political
    • Legal
  • E-Edition
    • Current Issue
    • Archives
  • Real Estate News
    • Market Trends
  • Business News
  • Non-Profit News
  • Political News
  • Legal News
  • Editorial
    • Empower You
    • The Serial Entrepreneur
    • Tom Becka
  • Other News
  • Public Records
    • Wreck Permits
    • Building Permits
    • Electrical Permits
    • Mechanical Permits
    • Plumbing Permits
  • Real Estate Leads
    • Notice of Default
    • Active Property Sales
    • Active Probates
    • Deeds
  • Public Notices
    • State of Nebraska
    • City of Bennington
    • City of Gretna
    • City of Valley
    • Douglas County West Community Schools
    • Gretna Public Schools
    • Omaha Airport Authority
    • Omaha Housing Authority
    • Plattsmouth Community Schools
    • City of Omaha
    • Douglas County
      • Tax Delinqueny 2025
    • City/County Notice of Bids
    • City of Ralston
    • Omaha Public Schools
    • Millard Public Schools
    • Ralston Public Schools
    • Westside Community Schools
    • Bennington Public Schools
    • Learning Community
    • MAPA
    • MECA
    • Omaha Airport Authority
    • Village of Boys Town
    • Village of Waterloo
    • Sarpy County
      • Tax Delinquency 2025
    • City of Bellevue
  • Advertise
    • Place a Legal Notice
    • Place a Print Ad
    • Place a Classified Ad
    • Place an Online Ad
    • Place Sponsored Content
  • Available For Hire
    • Real Estate
      • Contractors
      • Clerical
    • Legal
      • Paralegal
      • Clerical
  • About
    • Our History
    • Our Office
    • Our Staff
    • Contact Us

You are here

Home » Americans Should Keep Their Full Social Security Check

Americans Should Keep Their Full Social Security Check

Published by Nikki Palmer on Tue, 09/26/2023 - 2:00am
By 
U.S. Senator Pete Ricketts

Since its creation in 1935, Social Security has been the backbone of most Americans’ retirement plans. For decades, workers paid into Social Security via the payroll tax each pay period. According to the Social Security Administration, nearly nine out of ten people aged 65 and older received a Social Security benefit as of June 30 of this year.

 From the beginning, Social Security benefits were untaxed, and rightly so. Think about it: why would the government send you 12 checks a year and then ask for money back the following year? For nearly five decades, Social Security benefits remained tax-free, respecting the fact that seniors had been paying into the program via the payroll tax each pay period. In 1983, 50% of Social Security benefits became taxable. In 1993, President Clinton signed a bill into law to make 85% of benefits taxable. This double taxation remains the law today. It must change.

 When I became Governor, Nebraska taxed Social Security benefits at the state level as well. Working with the Legislature, I proudly signed LB873 into law to eliminate this tax and provide needed relief to Nebraska seniors. We did it in a fiscally responsible way. We gradually phased in the tax cuts over a period of years while controlling our state government spending.

 This was not a Republican priority or a Democrat priority. It was a Nebraska priority. Every Nebraska State Senator voted to pass the tax cut in a strong bipartisan endorsement of this common-sense idea. 100% support, and 0% opposition.

 This policy is working for Nebraska, enabling more people to keep their hard-earned dollars in retirement. Now, it is ready for America. That’s why I’m introducing the Social Security Check Tax Cut Act. My bill would bring the same policy we implemented in Nebraska to all Americans and eliminate the double tax on Social Security benefits. It starts with a fiscally responsible phase-out of taxes, beginning with a 10% cut in year one and increasing to 20% in year two. Like any tax cut, there must be a plan to make up the difference. There are numerous examples of wasteful federal spending that can be reigned to pay for this.

 I believe all Social Security benefits should be completely tax-free, but big changes usually don’t happen overnight. My bill, the Social Security Check Tax Cut Act, is the first step toward completely eliminating the double tax on Social Security benefits.

 Passing my bill would allow a typical senior to save $800 in 2025. That would mean $800 more to pay for visits to grandkids, groceries, medication, utilities, and more. That’s 187 gallons of milk or 208 gallons of gas at current prices - real relief in this time of rising costs and stubborn inflation. It would mean government stops taking money you earned, and are entitled to, out of your pocket.

 My bill is the first step in boosting the retirement income of millions of seniors in Nebraska and across the country. I will continue working with my colleagues until we see the same kind of bipartisan support we saw in Nebraska.

Category:

  • Editorial

User login

  • Request new password

            

Latest Podcasts

  • Real Estate
  • Political
  • Political
  • Real Estate

Nebraska Landlord

Betches Sup - A Liberal News Commentary

Ruthless - A Conservative News Commentary

REIA Radio Show

Omaha Daily Record

The Daily Record
222 South 72nd Street, Suite 302
Omaha, Nebraska
68114
United States

Tele (402) 345-1303
Fax (402) 345-2351
 

The Daily Record
222 South 72nd Street, Suite 302 | Omaha, Nebraska 68114 | United States | Tele (402) 345-1303 | Fax (402) 345-2351 | Sitemap
Site Design, Programming & Development by Surf New Media