Harris' running mate Tim Walz cut taxes on Social Security in his state. Here's how it differs from Trump's proposal

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Vice presidential candidate Minnesota Governor Tim Walz looks on during a campaign rally with U.S. Vice President and Democratic presidential candidate Kamala Harris in Philadelphia, Pennsylvania, U.S., August 6, 2024. As many retirees struggle to afford the basics, there's been bipartisan support to exempt Social Security from income taxes. That policy has spilled into the 2024 election with a federal proposal from Former President Donald Trump and recent state legislation from Vice President Kamala Harris' new running mate Minnesota Gov. Tim Walz. "We can do a lot of things to help the people," Trump said during a "Fox & Friends" interview on Wednesday morning. "People on Social Security are being killed, and one of the things I'm doing is no tax for seniors on Social Security, and I'll get it done quickly." More from Personal Finance: Here's how Tim Walz could help shape the child tax credit Here's how families are covering the rising cost of college A 'soft landing' is still on the table, economists say Of course, there are key differences when comparing a federal tax proposal with state legislation, including the political and fiscal landscape, policy experts say.