By Office of Senator Pete Ricketts
OMAHA, NE – On Friday, U.S. Senator Pete Ricketts (R-NE) visited Richmont Senior Living in Bellevue and discussed his Social Security Check Tax Cut Act with seniors, State Senators, and other stakeholders.
"The Social Security Check Tax Cut Act will cut the federal tax on Social Security benefits by 20% over two years,” Ricketts said. “This would allow a typical senior to save $800 in 2025. 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. It brings the same policy we implemented in Nebraska when I was Governor to all Americans by eliminating the double tax on Social Security benefits.”
The Social Security Check Tax Cut Act, announced Thursday, begins a total phase out on federal taxes on Social Security benefits. The bill was modeled after a successful effort to eliminate state taxes on Social Security benefits initiated when Ricketts was Governor of Nebraska. The Social Security Check Tax Cut Act is the third piece of legislation in Ricketts’ “Proven Nebraska Solutions, Ready for America” package.