Trump says 88% of US retirees will now pay zero taxes on Social Security, but can the One Big Beautiful Bill hurt you?

What we drew from this source

The claims Via News extracted from this document. We point to the source; we don't replace it.

• Roughly 80% of older Americans, or nearly 34 million households, don't have enough resources to deal with serious illnesses or the need for long-term care

  80% confidence

• 88% of all seniors who receive Social Security will pay NO TAX on their Social Security benefits under the One Big Beautiful Bill Act

  80% confidence

• Fewer than 24% of all current Social Security recipients will see a reduction in taxable income directly due to the new law

  80% confidence

• About 64% of Social Security recipients already paid no federal tax on their benefits before the new law, thanks to existing deductions and exemptions

  80% confidence

• If the Social Security retirement trust fund goes bankrupt, all retirees will face an across-the-board benefit cut of 24%, which for couples retiring after fund insolvency could mean a combined $18,400 reduction in benefits

  80% confidence

• Nearly 11.8 million Americans could lose their health insurance by 2034 due to the OBBBA's Medicaid spending cuts

  80% confidence

• The cost of tax deductions and reductions in Trump's megabill could reduce federal tax revenue from Social Security benefits by $30 billion annually

  80% confidence

• The SSA's retirement trust fund will go broke in 2032 without intervention

  80% confidence

• The OBBBA is enough to accelerate the insolvency of the Social Security retirement fund and Medicare Hospital Insurance fund to 2032, a year sooner than the program's trustees projected

  80% confidence

• The White House's claims about Social Security tax relief under the OBBBA could be false and exaggerated

  80% confidence

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