Former President Donald Trump has unveiled a bold new tax proposal aimed directly at Americans aged 65 and older — a move that could significantly reshape retirement finances. Announced as part of his 2026 tax reform plan, the measure promises substantial relief for seniors struggling with rising living costs.

Under Trump’s proposal, individuals over 65 could claim a $6,000 tax deduction, while couples in which both spouses qualify would receive up to $12,000. The plan is designed to ease financial pressure on retirees living on fixed incomes, offering a much-needed boost amid inflation and increasing healthcare expenses.

Supporters have praised the plan as a long-overdue recognition of older Americans’ contributions. “Seniors built the foundation of this country,” Trump said. “It’s time we reward their lifetime of hard work.” Many retirees welcomed the news, viewing it as a rare financial reprieve in uncertain times.

Critics, however, warn that the proposal could strain the national budget and deepen the deficit. Some analysts see it as a politically strategic move to attract older voters ahead of the next election. Still, even skeptics admit that the proposal addresses real economic challenges faced by millions of retirees.

The announcement quickly went viral, sparking debates across social media and financial forums. Many seniors began checking their potential eligibility, while others questioned whether Congress would approve the measure.

The plan still requires legislative approval before becoming law, and lawmakers are expected to scrutinize the fiscal impact closely. Adjustments to the deduction’s size or qualifying criteria could still emerge.

Regardless of the outcome, Trump’s proposal has reignited national conversation about how the U.S. supports its aging population.

If passed, the measure could mark a significant win for retirees — a reminder that the financial well-being of older Americans remains a defining issue in the country’s economic and political landscape.