Roughly 400,000 New Mexico retirees are expected to benefit from a new federal deduction that exempts most Social Security income from taxes

If your income exceeds $150,000 for a single adult or $250,000 for a married couple, you won't qualify for the $6,000 senior deduction. However, you're still eligible to claim your standard deduction and the $2,000 senior deduction that was already in place before the BBB passed.

Roughly 3.3 million New York retirees will see their Social Security income shielded from federal taxes starting in 2026 under Trump's OBBBA.