In total, fewer than 24% of all current Social Security recipients will see a reduction in taxable income directly due to the new law. According to the CBPP, this falls far short of Trump’s campaign promise to eliminate all taxes on Social Security.

One organization warns that a dual-earning couple retiring in 2033 could experience a Social Security trust fund cut of $18,100.

The Trump bill — which was enacted in early July — introduces an additional tax deduction for taxpayers who are 65 or older. The deduction could be up to $6,000 for an individual tax filer and up to $12,000 for a married couple if both spouses qualify.

Despite being eligible for maximum Social Security benefits, Donald Trump has yet to claim them. This decision highlights a common misconception about political figures and their participation in the Social Security system.

A think tank has said the Trump administration is "peddling false and exaggerated claims" about taxes on Social Security benefits.

The Trump administration has introduced a new senior tax deduction via the One Big, Beautiful Bill (OBBB), claiming it fulfils the pledge to end taxes on Social Security benefits. This policy is set to come into effect in the 2025 tax year and has been presented as a landmark reform for older Americans.

President Trump’s tax and spending megabill could speed up insolvency for Social Security’s trust funds, according to an analysis from the Trump administration’s chief actuary for the program. The Office of the Chief Actuary (OACT) at the Social Security Administration (SSA) released an analysis this week of the law’s potential effects on the program’s

A new report examining the effects of President Donald Trump’s “One Big Beautiful Bill Act” (OBBBA) shows that it will cause Social Security funds to be depleted more quickly, resulting in significant benefit cuts for new retirees starting in the next decade.

Social Security's chief actuary said in a letter that trust fund insolvency moved up due to recent tax changes, potentially triggering benefit cuts for millions in less than a decade.