RETIREES FIRST Act
Sponsored By: Representative Malliotakis
Introduced
Summary
Reduce taxable Social Security for many retirees. The RETIREES FIRST Act would raise the income cutoffs used to decide how much Social Security benefits count as taxable income and redirect non-security discretionary spending to cover that relief.
Show full summary
- Seniors and retirees: The bill would raise the base amounts used to determine taxable Social Security to $34,000 for an individual and $68,000 for a joint return. These new thresholds would be adjusted for inflation and apply to tax years beginning after December 31, 2025.
- Trust funds: The law would require appropriations to the Social Security and Railroad Retirement trust funds equal to any reduction in transfers caused by the change so those trust funds are made whole.
- Federal spending and annual reports: Starting in fiscal year 2027, the bill would rescind non-security discretionary appropriations each year on a pro rata basis equal to the total cost of the tax change, exclude security-category funds, and require the Director of the Office of Management and Budget to publish an annual report beginning January 1, 2028 detailing those rescissions.
Your PRIA Score
Personalized for You
How does this bill affect your finances?
Sign up for a PRIA Policy Scan to see your personalized alignment score for this bill and every other piece of legislation we track. We analyze your financial profile against policy provisions to show you exactly what matters to your wallet.
Bill Overview
Analyzed Economic Effects
3 provisions identified: 2 benefits, 1 costs, 0 mixed.
Keep Social Security trust funds whole
If enacted, the government would pay each year into Social Security and Railroad Retirement trust funds. The payment would equal any drop in transfers caused by the bill’s tax changes. This would aim to protect program funding and keep checks flowing as scheduled.
Annual cuts to non-defense programs
Starting in fiscal year 2027, the bill would rescind money from non-defense discretionary programs each year. The annual cut would equal the estimated reduction in transfers to Social Security and Railroad Retirement funds caused by the tax changes, taken pro rata after annual appropriations are set. Security-designated funds would be excluded. OMB would publish a yearly report beginning January 1, 2028.
Lower taxes on Social Security benefits
If enacted, this would raise the income thresholds for taxing Social Security. Up to 85% of benefits could still be taxed, but only above higher base amounts. New base amounts: $34,000 for single filers and $68,000 for joint filers. Married filing separately who lived with a spouse would have a $0 base. Thresholds would be indexed for inflation starting with 2026 taxes. These rules would apply to tax years beginning after December 31, 2025.
Sponsors & CoSponsors
Sponsor
Malliotakis
NY • R
Cosponsors
There are no cosponsors for this bill.
Roll Call Votes
No roll call votes available for this bill.
View on Congress.govTake It Personal
Get Your Personalized Policy View
Start a Free Government Policy Watch to see how policy affects your household, then upgrade to PRIA Full Coverage for year-round monitoring.
Already have an account? Sign in