A bill to amend the Internal Revenue Code of 1986 to repeal the inclusion in gross income of Social Security benefits.

Bill 119 s 458, also known as the Social Security Income Repeal Act, is a proposed piece of legislation that aims to amend the Internal Revenue Code of 1986 by repealing the requirement to include Social Security benefits in gross income.

Currently, Social Security benefits are subject to taxation if an individual's income exceeds a certain threshold. This bill seeks to eliminate this provision, effectively exempting Social Security benefits from being counted as taxable income.

Proponents of the bill argue that Social Security benefits are intended to provide financial support to retired individuals and should not be subject to additional taxation. They believe that repealing the inclusion of Social Security benefits in gross income will help alleviate the financial burden on retirees and ensure that they can fully benefit from the program. Opponents of the bill may argue that exempting Social Security benefits from taxation could result in a loss of revenue for the government, potentially impacting other programs and services. They may also raise concerns about the potential impact on the overall tax system and the distribution of tax burdens among different income groups. Overall, Bill 119 s 458 represents a significant proposed change to the taxation of Social Security benefits and has the potential to have a significant impact on retirees and the overall tax system.