The 'One Big Beautiful Bill' has stirred debates over its impact on Social Security benefits. Despite promises to eliminate taxes on these benefits, the current legislation falls short. Instead, it introduces a temporary 'senior bonus' deduction,

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

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.)