New study shows GOP’s “Big Beautiful Bill” would speed up depletion of Social Security and Medicare trust funds, triggering deeper benefit cuts.

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.

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.)