Donald Trump wants to sign his 'big beautiful' tax and spending bill into law July 4. Here's where it stands before the final vote in Congress.

President Trump’s sweeping bill includes a major Social Security tax break for older Americans, but leaves out the poorest seniors—and could speed up program insolvency.

President Trump repeatedly stated that he wanted to end Social Security benefit taxes, but that's not what the OBBB does. Instead, it adds a new $6,000 tax deduction for seniors ($12,000 for married couples) that they can claim on top of the standard deduction and existing senior deduction. Here's a closer look at how this adds up: