The White House said Tuesday President Obama is willing to discuss with Republicans a measure to limit the growth of Social Security benefits, a proposal that Mr. Obama didn’t even include in his fiscal 2016 budget plan after it drew a hostile reaction from Democrats.
The Social Security trust funds are financial accounts in the U.S. Treasury. There are two separate Social Security trust funds, the Old-Age and Survivors Insurance (OASI) Trust Fund pays retirement and survivors benefits, and the Disability Insurance (DI) Trust Fund pays disability benefits.
Minnesota is among 13 states that slap some kind of tax on Social Security income. Some of those states, among them Connecticut and Montana, have separate calculations and/or income limits to determine taxable benefits.