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.)

The 'Big Beautiful Bill' signed by President Trump promised to eliminate taxes on Social Security benefits. However, the reality is more nuanced, offering significant tax relief but not a complete elimination.

During his campaign, Trump promised to eliminate federal taxes on Social Security benefits. While that measure was cut from the final bill, the majority of seniors are still set to receive a tax break.