What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.

Up to 85 percent of Social Security benefits can be taxed—but a new deduction will reduce how much seniors need to pay.

President Trump celebrated his just-passed “One Big Beautiful Bill Act” Thursday night as “a declaration of independence from a national decline.” Trump, 79, told a large rally at the Iowa State Fairgrounds that the bill makes good on his major campaign promises to slash taxes on tips,

President Donald Trump’s “Big, Beautiful Bill” has passed a key procedural hurdle after a long night of haggling with Republicans, setting the stage for a floor vote in the House of Representatives later on Thursday.

One health policy professor said cutting Medicaid and similar programs "will be devastating" to millions of Americans.