The Social Security Administration said the bill ensures most Social Security beneficiaries will no longer pay federal income taxes on their benefits. Instead, the bill provides a temporary tax deduction some are calling a "senior bonus.

One of the marquee promises of President Donald Trump's One Big Beautiful Bill Act (OBBBA) was the elimination of taxes on Social Security benefits. But as analysts scrutinize the

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.

President Donald Trump will meet with his Cabinet at the White House at 11 a.m. Tuesday for the first time after signing the One Big Beautiful Bill Act late last week. Trump signed the sweeping legislation on Friday’s Fourth of July holiday,

The Social Security Administration says most won’t pay federal income taxes on their benefits. But Congress didn’t directly exempt those payments from taxes.