Exclusive | Rep. Nicole Malliotakis floats new tax cuts for seniors in pair of bills

Staten Island Rep.Nicole Malliotakis floated a pair of bills Monday that would give elderly Americans deeper tax cuts, The Post can reveal, as House Republicans are totaling up deductions for a massive package they want to send to President Trump’s desk later this year.Mallotakis, the lone Republican repping New York City in Congress, introduced the Bonus Tax Relief for America’s Seniors Act and the Tax Relief Unleashed for Seniors by Trump (TRUST) Act to increase deductions on the taxable income of Americans over the age of 65 and enjoying Social Security benefits.The Bonus Tax Relief act, which is bipartisan, would give individuals and married couples extra deductions of $5,000 and $10,000, respectively.

The TRUST Act would double tax-exempt income for seniors on Social Security from $25,000 to $50,000 for single filers and from $32,000 to $64,000 for married couples.“Our seniors have worked hard and paid taxes their whole lives and they should be able to keep more of their Social Security and retirement income without Uncle Sam trying to reach into their pockets again,” Malliotakis said in a statement.“Many of our seniors have been crushed by inflation, and are being forced to stretch their retirement savings further than ever before,” added Malliotakis, who sits on the House Ways and Means Committee.“The bills I’m introducing today would reduce the tax burden on our seniors, keep more money in their pockets and allow them to retire with greater financial security.”Trump has asked Republicans in Congress to make good on his 2024 campaign promises by eliminating taxes on tips, overtime pay and Social Security — in addition to making his 2017 tax cuts permanent — as part of either a single- or multi-bill package.GOP senators leapfrogged their House Republican colleagues last week by releasing a budget framework for the president’s legislative priorities on border security and energy — but Speaker of the House Mike Johnson (R-La.) is stil...