Malliotakis, IRS CEO Bisignano Highlight Tax Cuts for Seniors and Other Provisions Benefiting Staten Island Families

Image October 29, 2026 Press Release (STATEN ISLAND, NY) — Today, Congresswoman Nicole Malliotakis (NY-11) joined Frank Bisignano, Chief Executive Officer of the Internal Revenue Service (IRS) and Commissioner of the Social Security Administration, and discussed the impact of the middle-class tax cuts enacted by President Trump and Congress on Staten Island families and seniors. Major tax provisions: Senior Bonus Deduction: Staten Island has one of the largest senior populations in New York City, with more than 42,000 residents age 65 and older receiving Social Security benefits. This year, a new tax deduction of up to $6,000 for eligible seniors age 65 and older, or $12,000 for eligible married couples, will provide tax relief to the vast majority of Staten Island’s more than 42,000 senior Social Security recipients and help ensure that 88% of seniors nationwide pay no federal income tax on their Social Security benefits. Quadrupled SALT Deduction : More than 100,000 Staten Island households own their homes, and under the Working Families Tax Cuts the state and local tax deduction was increased from $10,000 to $40,000 so hardworking New Yorkers can deduct more of the high state and local taxes they pay and keep more of their money. 98% of households in NY-11 have state and local tax liabilities that fall within the expanded deduction. Standard Deduction Expansion: The increased Standard Deduction delivered an estimated average tax cut of $782 per filer in Richmond County, allowing working families and middle-class taxpayers to keep more of their hard-earned money. Without the Working Families Tax Cuts, the expanded standard deduction established under the 2017 Tax Cuts and Jobs Act would have expired, resulting in a significant tax increase for millions of Americans. Increased and Permanent Child Tax Credit: The Working Families Tax Cuts raised the credit to $2,200 per child. More than 45,000 Staten Island families have children under the age of 18, and the Working Families Tax Cuts are helping hardworking parents keep more of their hard-earned money through this expanded Child Tax Credit. No Tax on Most Tips and Overtime : Staten Island is home to hardworking police officers, firefighters, nurses, sanitation workers, construction workers, and hospitality employees who often depend on overtime pay and tips to support their families. Under the Working Families Tax Cuts, the federal taxes on most tips and overtime are eliminated so hardworking Americans can keep more of what they earn for qualified tips and overtime compensation, rewarding hardworking Americans who put in extra hours to make ends meet. Newborn Investment Accounts: The Working Families Tax Cuts created a first of their kind investment accounts for eligible newborns born between 2025 and 2028 with a $1,000 federal contribution, giving children a head start on saving for their future and expanded 529 education savings accounts to help parents save for their children's futures. Education Contribution Tax Credit : Beginning in 2027, eligible taxpayers can receive a federal tax credit of up to $1,700 annually for donations to participating scholarship organizations, helping families cover qualifying K–12 expenses at public, private and religious schools while giving parents greater flexibility to choose the learning environment that best meets their children’s needs. IRS data shows that over 80% of refunds were issued in less than 21 days, with the average refund reaching $3,276, an increase of more than 11% compared with the same period in 2025. These larger refunds are putting more money back into the pockets of American families, helping them manage household expenses and save for the future. “Congress delivered the largest middle-class tax cuts in American history to put more money back in the pockets of Staten Island seniors and working families. From quadrupling the SALT deduction cap and increasing the child tax credit and standard deduction to providing a new bonus deduction for seniors and creating investment accounts for newborns, we are delivering real relief for our community. These provisions help families keep more of what they earn, save for their children’s future and allow seniors to keep more of the retirement income they worked their entire lives to earn,” said Congresswoman Nicole Malliotakis. “This year, working class families in Staten Island and across the country received meaningful financial relief from President Donald J. Trump’s Working Families Tax Cuts,” said Bisignano who also is the Commissioner of the Social Security Administration. “On average, tax refunds were up 11% and more Americans received refunds than the previous year. Thanks to the leadership of Congresswoman Malliotakis, hardworking Americans and seniors were able to keep more of their hard-earned money,” said Frank Bisignano, Chief Executive Officer of the Internal Revenue Service (IRS) and Commissioner of the Social Security Administration. Watch remarks HERE . The Working Families Tax Cuts delivers significant relief and economic growth, including a $90 billion tax cut for hourly overtime workers, $32 billion in tax relief for tipped workers, and $63 billion in tax relief for seniors. The legislation is projected to generate $284 billion in economic growth from manufacturers and drives more than $100 billion in new investments in opportunity zones. It also provides a $10,900 boost in take-home pay for a family with two children, secures 7.2 million American jobs, and delivers a boosted Child Tax Credit to 40 million American families.