2024 Social Security COLA Increase May Push More Seniors into Higher Tax Brackets

Social Security COLA increase of 3.2% in 2024 may push beneficiaries into higher tax brackets.

Increased COLA could cause more retirees to pay taxes on Social Security benefits for the first time.

Retirees worry 2024 COLA increase won't keep pace with inflation and living costs.

Advocates propose using "senior" CPI to calculate COLA to better reflect costs for older Americans.

Social Security trust funds projected to become insolvent by 2033, triggering potential benefit cuts.