Repeal Income Tax on Social Security? What Retirement Experts Think of New Bill

What You Need To Know

• The You Earned It, You Keep It Act would end federal income tax on Social Security benefits while phasing out the payroll tax cap.
• Retirement planning experts say the fundamentals of the proposal are sound but a broader approach may ultimately be needed.
• While passage in the short term appears unlikely, the legislation could serve as a stepping stone in future Congresses.