President Donald Trump has tapped businessman Frank Bisignano as the Social Security Commissioner. What could that mean for you?

Like most elected officials, Donald Trump recognizes that Social Security is vital to the financial well-being of our nation's retirees. But he's not oblivious to the fact that altering Social Security comes with potentially negative ramifications. While speaking at the Conservative Political Action Conference in March 2013, Trump said:

President Donald Trump has said that under his second term he would look to eliminate taxes on Social Security income for seniors, which at first glance sounds like a good thing for folks who

The big problem with Trump's proposal to eliminate Social Security's income taxes on benefits is that those taxes are one of just three critical funding sources for the program. The other two are the payroll taxes that workers pay and the interest income on the program's trust funds.

In 2025, nine states will impose taxes on Social Security benefits, understanding the specific rules and income thresholds in these states is crucial for reduce.