Many people, such as President Donald Trump and many members of Congress, are excited about what they refer to as the “Big Beautiful Bill.” Others are not happy at all. Part of the problem is that while some parts of it can seem beautiful, they have meaningful drawbacks.
Consider Social Security. The White House issued a statement on July 1 saying that “Under the One Big Beautiful Bill, the vast majority of senior citizens — 88% of all seniors who receive Social Security — will pay NO TAX on their Social Security benefits, according to a brand new analysis from the Council of Economic Advisers.”
