The One, Big, Beautiful Bill recently passed the Senate with provisions that would increase after-tax income for millions of retired workers on Social Security.

Eliminating taxes on Social Security benefits is missing from President Trump’s tax overhaul. Here’s why and what an alternative offering could mean for retirement taxes.

The Committee for a Responsible Federal Budget estimates the expanded senior deduction, along with other tax cuts, could cost $30 billion annually. This might accelerate the depletion of the Social Security Old-Age and Survivors Insurance Trust Fund from early 2033 to late 2032.