WASHINGTON, May 27 -- Sen. Mike Crapo issued the following news release:
Along with preventing the largest tax hike in American history, the Working Families Tax Cuts fulfilled President Trump's promise to provide tax relief to low- and middle-income senior citizens. Now, people aged 65 or older can claim a new $6,000 deduction in addition to the standard deduction and the existing seniors deduction, and married filers can each claim the deduction if both qualify. Because of these deductions, the Council of Economic Advisors estimates that 88 percent of seniors will no longer pay taxes on Social Security benefits, helping them to stretch fixed incomes much further.
"Americans deserve financial security in their retirement years, and many ...