Retirees may need to adjust their financial plans in light of changes introduced by the recently passed Big Beautiful Bill (BBB). The new legislation brings one of the largest tax cuts in history for middle- and working-class Americans,

Trump's flagship tax and spending law is expected to have a material (and adverse) impact on America's leading retirement program.

Roughly 100,000 Wyoming retirees are expected to benefit from a new federal deduction that eliminates taxes on most Social Security income.

Roughly 4 million Texas retirees are expected to benefit from a new federal deduction that eliminates taxes on most Social Security income starting in 2026. The One Big Beautiful Bill could

The "big beautiful bill" includes a $6,000 additional deduction for certain older Americans ages 65 and over. However, the legislation does not end federal income taxes on Social Security benefits.

In order to qualify for the maximum Social Security benefit, you'll also have to earn the maximum for each of the 35 years of earnings that are used to calculate your benefits. That doesn't mean earning umpteen kazillion bajillion dollars each year, though.

Roughly 1 million South Carolina retirees are expected to benefit from a new federal deduction that exempts most Social Security income from taxes starting in 2026. The One Big Beautiful Bill

President Donald Trump claims nearly 275,000 illegal immigrants have been removed from the U.S. Social Security system following his signing of the “One Big Beautiful Bill.” Speaking to supporters, Trump touted the measure as both a senior citizen tax relief initiative and a step to protect benefits from what he called “fraudulent claims.