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‘Big beautiful bill’ doesn’t eliminate taxes on Social Security benefits

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The Social Security Administration sent what experts say is a misleading email to consumers last week, describing President Donald Trump’s “one big beautiful bill” as “long-awaited tax relief to millions of older Americans.”

In that email and a July 3 press release, the agency said the legislation will make it so “nearly 90%” of Social Security beneficiaries no longer pay federal income taxes on benefits. It attributed that to an additional $6,000 senior deduction and another unspecified provision.

Tax experts say that is not accurate.

Read more from CNBC.

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