President Donald Trump has long touted eliminating taxes on Social Security. His administration says he has achieved it, but the bill says otherwise.

The One Big Beautiful Bill Act (OBBBA), signed into law by President Donald Trump over the July 4, 2025, weekend, is a sweeping multitrillion-dollar package that blends tax cuts with significant spending reductions and changes to the social safety net.

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.

House Speaker Johnson says President Trump's "big, beautiful bill" will help the GOP in the midterms. Key Senate races are now in the spotlight as Republicans aim to hold their slim majority in 2026.

Key Points President Trump's "big, beautiful bill" includes major changes to federal spending and tax policies.The Congressional Budget Office estimates that the bill could increase the national debt by $3 trillion during the next decade.

Democrats are looking to run the Republican Obamacare playbook and use the One Big Beautiful Bill Act as a political cudgel heading into the 2026 midterm elections. Early polling on President Donald Trump’s signature legislative victory suggests a small fraction of adults support the bill signed into law on Friday.

Trump's One Big Beautiful Bill Act created federal work requirements for Medicaid recipients, which amount to 80 hours a month in community engagement activities to maintain eligibility.