You Earned It, You Keep It Act

This proposal would stop counting Social Security benefits as taxable income. That means people who get Social Security would no longer pay income tax on those benefits, leaving them with more take‑home money .

It also sets a rule for people who work for more than one employer in the same year. If your combined wages cross the Social Security tax cap because you had multiple jobs, you could owe an extra amount at tax time so that, in total, you pay what you would have paid if all your wages came from one employer. A special refund for overpaying this tax would be limited to that difference. Similar rules apply to certain railroad retirement pay. The bill uses the standard meaning of “wages” from existing tax law. The text provided does not say when these changes take effect .

• Who is affected: Social Security recipients; workers with more than one employer in a year; some railroad workers and retirees .
• What changes: Social Security benefits would not be taxed as income; multi‑employer workers may settle up an extra Social Security tax so total tax matches the one‑employer amount; limits on related refunds; parallel rule for railroad retirement pay .
• When: Not specified in the provided text .