Howard Gleckman discusses the One Big Beautiful Bill Act’s effects on Social Security benefits SummaryIn an emailed announcement praising the passage of the One Big Beautiful Bill Act, the Social Security Administration says the legislation will eliminate federal income tax on Social Security benefits, but the enhanced deduction actually reduces households’ taxes based on overall income.
Howard Gleckman discusses the One Big Beautiful Bill Act’s senior tax deduction SummaryThe One Big Beautiful Bill Act includes a new tax deduction for Americans ages 65 and older, but the benefits will vary based on their income and filing status.
Joseph Rosenberg on the tax cuts in the One Big Beautiful Bill Act SummaryFor Americans with low incomes, reduced spending on safety net protections in the One Big Beautiful Bill Act may offset potential savings from the bill’s tax cuts, leading to a disproportionate benefit for some.
Jorge González-Hermoso discusses office-to-residential conversions SummaryFollowing the COVID-19 pandemic’s shift toward remote work, urban business districts are redeveloping to accommodate new residential growth, and those moving in tend to be younger.
Heather Hahn discusses work requirements for federal safety net programs SummaryChanges to safety net programs include dozens of updates to deadlines and document requirements, which may make it more difficult for eligible people to enroll and claim benefits, especially if they work multiple jobs or have inconsistent work schedules.
Michael Karpman discusses Medicaid work requirements SummaryThe One Big Beautiful Bill Act would require Medicaid-expansion states to impose work requirements for enrollees looking to get or maintain coverage, which may introduce barriers that cause eligible applicants to lose coverage.