The exact wording of the law actually stipulates a $6,000 tax deduction for individuals aged 65 and older, likely raising the number of seniors who won't pay taxes on Social Security to 88 percent. Currently, 64 percent of seniors already don't pay taxes on Social Security benefits.

President Donald Trump’s ‘One Big Beautiful Bill’ offers to bring widespread tax relief for senior citizens. Signed into law on July 4, the act introduces a measure to provide significant tax deductions for individuals aged 65 years or older and significantly increases the percentage of senior citizens exempt from paying social security taxes.