In a move shaking both political and financial circles, former President Donald Trump has unveiled a new tax proposal aimed squarely at seniors, promising major relief for Americans 65 and older. According to Trump’s social media announcement, starting in 2026, individuals 65+ could claim a $6,000 deduction, while couples in which both spouses qualify would see a combined $12,000 deduction.
A Game-Changer for Retirees
For seniors on fixed incomes, this could be transformative. With inflation and rising healthcare costs putting pressure on retirees, even a modest deduction could ease monthly budgets and help cover essentials. “America’s seniors built this country — it’s time we give back,” Trump said, framing the policy as both economic relief and a recognition of their lifelong contributions.
Financial analysts estimate that eligible retirees could save $1,500–$2,000 annually, depending on income and tax bracket. For a retired couple earning $50,000 a year, the deduction could slash taxable income by nearly a quarter. Conservative commentators have hailed the plan as “a lifeline for the forgotten generation,” while Trump supporters argue it finally acknowledges seniors’ unique financial challenges.
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