On Wednesday, the U.S. Department of the Treasury held a roundtable discussion with senior AMAC leaders and AMAC members to highlight key provisions passed as part of President Donald Trump’s Working Families Tax Cuts, which benefit older Americans. The discussion was held as part of the administration’s efforts surrounding Financial Literacy Week,
The event brought together Treasury officials and AMAC seniors for a conversation focused on how the legislation, also known as the “One Big Beautiful Bill,” delivers meaningful relief and opportunity for middle-class retirees and small business owners. The roundtable emphasized the importance of protecting seniors from financial scams, with Treasury experts providing guidance on prevention and awareness.
“Grateful to @AMACforAmerica for joining us here at @USTreasury for a roundtable on financial literacy,” Secretary Scott Bessent, who was present at the discussion, wrote on X. “We discussed the importance of equipping Americans across all stages of life with the tools to make informed financial decisions and protect themselves from fraud and exploitation.”
“In coordination with the @IRSnews and thanks to @POTUS and Republicans’
@TaxCuts, increased education and fraud and scam detection efforts are ensuring tax relief reaches the right hands this filing season, delivering historic relief to over 34 million seniors and stopping abusive tax schemes that target older taxpayers,” Bessent added.
Bessent delivered opening remarks underscoring the administration’s commitment to supporting seniors through targeted tax relief and enhanced financial security.
Among the key provisions discussed were:
- An enhanced standard deduction for middle-class seniors, helping reduce tax burdens in retirement
- The 20 percent small business deduction, supporting senior entrepreneurs and family-run businesses
- Estate tax (death tax) relief to help preserve generational wealth
- The creation of “Trump Accounts,” designed to expand savings opportunities for Americans, an initiative that was a top priority of late AMAC founder Dan Weber
In addition to discussing these policy wins, Treasury officials presented on the growing threat of financial scams targeting seniors and outlined practical steps individuals can take to safeguard their finances.
“I enjoyed hosting members of the Association of Mature American Citizens for a meaningful discussion on the importance of financial education as part of Financial Literacy Month,” said Bessent. “Understanding how to make informed financial decisions unlocks opportunity for every American and their families and helps protect against from fraud and exploitation. In coordination with the IRS and thanks to President Trump and Republicans’ Working Families Tax Cuts, increased education and fraud and scam detection efforts are ensuring tax relief reaches the right hands this filing season, delivering historic relief to over 34 million seniors and stopping abusive tax schemes that target older taxpayers.”
“The Treasury roundtable with Secretary Bessent was an opportunity for AMAC to help ensure that seniors’ voices are heard and their priorities remain front and center in our nation’s economic policies,” said Rebecca Weber, CEO of AMAC. “From meaningful tax relief to protecting older Americans from increasingly sophisticated financial scams, this discussion highlights real solutions that strengthen retirement security and empower seniors to make informed financial decisions. We’re proud to work alongside the U.S. Department of the Treasury to advance policies that support and protect America’s seniors.”
The event reflects AMAC’s continued commitment to ensuring that members’ voices are heard on Capitol Hill, in the White House, and throughout federal, state, and local government offices.
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