It wasn’t long after President Trump announced the administration’s “Big, Beautiful Bill” that it began to draw scrutiny, and then criticism.
While the more than 1,000-page tome contains many major changes, one has been called out most often: passing it will add $2.4 trillion to the U.S. national debt.
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The bill has most recently been the topic of an offensive attack from former special government employee Elon Musk, who started to post criticism of it within a week of leaving his duties at the Department of Government Efficiency (DOGE).
Related: Social Security income tax deduction clears critical hurdle
Other key voices share his point of view. Sen. Elizabeth Warren echoed Musk’s naming of the bill as a “disgusting abomination,” saying in a statement, “This bill will rip health care away from millions of people and still jack up the debt to fund trillions in tax breaks for billionaires and billionaire corporations.”
The bill passed the House on May 22, leading Republicans to cheer for its victory. But once it got to the Senate, it hit a wall — and that could lead to a problem for some older Americans who claim Social Security.
The Trump administration’s “Big, Beautiful Bill” proposes changes to tax deductions for those on Social Security.
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Social Security tax deductions change on hold
While the bill has many elements that have raised eyebrows, one that seems like a positive is its handling of tax deductions for those on Social Security.
Should the bill pass the Senate, it would have a positive impact on the way married couples 65 and older handle tax deductions, raising the standard deduction to $35,200, with an additional $8,000 “senior bonus” deduction.
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“This expanded deduction is designed to provide financial relief to older taxpayers and would be available to those who take the standard deduction and those who itemize,” said TheStreet’s Senior Retirement Editor Robert Powell.
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However, the deduction is hitting a major roadblock to becoming new law.
Senate struggles to agree on the bill
As soon as the bill made it to the Senate, Republican voices started to clash over key issues within it.
The disagreements have forced GOP lawmakers to consider making changes to the bill to reduce the deficit, looking at Medicare, the Defense Department, and the Federal Reserve for potential cuts.
However, some members disagree on even considering these cuts. Sen. Josh Hawley (R-Mo.) has said “fiddling with Medicare” is a bad idea and that he’s “counseled against it.”
Sen. Thom Tillis (R-N.C.) argues that the “no tax on tips” provision is a problem, arguing that it’s not fair to those who work outside tipped industries.
And another concern is that the bill would shift certain Medicaid and food stamp costs to states, which has some former governors worried.
Several members who have said the legislation does not save enough money plan to vote against it, including Sens. Rand Paul of Kentucky, Ron Johnson of Wisconsin, Mike Lee of Utah, and Rick Scott of Florida.
Republicans plan to meet on July 11 to continue discussion of the bill. July 4 has been named as the date by which it will be passed, but with the level of contention it’s stirred up, it remains to be seen whether that will happen.
Related: Social Security income tax deduction faces a growing threat
