Dear [salutation],
Tax Day has come and gone, and this year, Arkansas's seniors kept more of their hard-earned money thanks to historic tax cuts passed by Republicans last summer.
Through the Working Families Tax Cuts, President Trump and Congressional Republicans delivered a new $6,000 deduction ($12,000 for couples) for lower- and middle-income seniors, helping protect their retirement income.
Here are a few things you should know:
- 88% of seniors protected from double taxation: According to the White House Council of Economic Advisers, most seniors age 65 and older who receive Social Security owed nothing on their Social Security income this year.
- Targeted relief for those who need it most: The new, retroactive senior deduction was focused on lower- and middle-income retirees and helped tens of millions of seniors keep more of their hard-earned money.
- Greater certainty in retirement: By eliminating double taxation on Social Security, this law provided stability for seniors living on fixed incomes and helped ensure their savings could support their needs.