The main purpose of this legislation is to provide tax relief to seniors by increasing the amount of Social Security benefits that are excluded from taxable income. This aims to help retirees keep more of their income, thereby enhancing their financial security. Key provisions of the legislation include specific increases to the income thresholds at which Social Security benefits become taxable. For individuals, the threshold will rise from $25,000 to $50,000. For married couples filing jointly, the threshold will increase from $32,000 to $64,000.