Trump’s “Big Beautiful Bill” adds a new senior tax deduction, but doesn’t change Social Security taxes -- offering retirees potential savings on taxable income through 2029.

The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the number of seniors who won't pay taxes on Social Security to 88 percent. Currently, 64 percent of seniors already don't pay taxes on Social Security benefits.