Highlights of the bill include a bigger SALT deduction, cuts to Medicaid, and tax breaks on tipped wages. Here’s how it may impact you.

Trump's big beautiful bill gets crucial vote to move on. What to know about reconciliation bill details: no tax on tips, overtime or Social Security.

During his campaign, Trump promised to eliminate taxes on Social Security benefits for seniors. However, the current Republican fiscal proposal tells a different story, offering a modest $4,000 tax deduction instead.

In March, more than 52 million retired workers took home an average Social Security benefit of nearly $2,000. While this is a relatively modest monthly sum, this income has proved vital to helping retirees make ends meet.

President Donald Trump's head of the Social Security Administration (SSA), Frank Bisignano, admitted in a town hall with agency managers this week that he was not looking for a job at the time and that he had searched Google to learn what exactly the position entails.