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Iowa legislators are talking about reviving a proposal to eliminate taxes on Social Security benefits for high-income taxpayers. Some key facts to keep in mind as this proposal is discussed: (1) This would affect fewer than 1 in 3 retired households, and no households where Social Security is the primary source of income; (2) Iowa already exempts the vast majority of Social Security recipients from paying state income tax on their Social Security benefits; and (3) The typical state tax on an Iowan's Social Security benefits is zero.
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