President Trump vowed to end taxes on Social Security, but the One Big Beautiful Bill stops short of fulfilling that promise.

But the bill does not eliminate taxes on Social Security for everyone, as President Donald Trump had promised. Nor does it change how those benefits are taxed. And the law’s changes affecting seniors will likely not benefit most people over 65, independent analysts said.

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.)