Trump promised to eliminate the tax on Social Security benefits in his 2024 campaign, but the bill instead adds a new deduction.

A new tax break aimed at seniors may lighten the load on retirees’ Social Security income, but it’s not as sweeping or permanent as some headlines suggest. Tucked inside the “One Big Beautiful Bill,” signed into law by President Donald Trump on July 4,

Trump's new tax law cuts seniors’ taxes—but may speed up Social Security’s collapse, risking benefit cuts of up to 23% by 2033 if no fix is made.