Legislation does not eliminate the tax on Social Security benefits, but it does provide a tax deduction that can cover taxes on those benefits.

Here's a look at whether you should be delighted or worried about the bill. (Spoiler: You may want to put away the confetti and noisemakers.)

During his campaign for a second term as president, Trump promised to eliminate federal income taxes on Social Security benefits. His "One, Big, Beautiful Bill" doesn't accomplish that goal.