Anyone on here knowledgeable about the windfall profit tax repeal?

[diacnik]

As the title says.. I heard it start in 2025 by adjusting social security payments. Also one year back pay. Effects retired teachers, cops, etc

 

[robcho]

Curious as well

 

[PBR1958]

The Windfall Elimination Provision or WEP is a law passed in 1983 to reduce the amount of Social Security an individual can draw or be paid by 60%. This law only effects workers that didn’t contribute or have Social Security taxes withheld from their pay checks. You need at least 40 quarters (10 years)of earnings paying Social Security tax. As stated this law affects approximately 3 million workers that have earned the 40 quarters required to draw SS. The Government Pension Offset (GPO)was passed along with the WEP in 1983. This law reduces or eliminates what a spouse can draw on their spouses SS. These laws were repealed by The House of Representatives and The Senate. The Social Security Fairnesses Act. The bill is simply waiting on President Biden to sign.

 

[diacnik]

Assuming presidential signing, how will it be administered? I wish. The back pay was not just one year. After all it is OUR money. That tax grab has cost me about 600 a month for almost 4 years