This deduction would likely benefit people who earn modest incomes. The lowest-earning seniors already pay no federal income taxes, so they wouldn’t benefit. The highest earners make too much to qualify.

The One Big Beautiful Bill is a massive proposed tax and spending package loaded with initiatives that align with Trump’s agenda. As it’s currently written, the bill includes major changes to Medicaid, food stamps, border security, taxes and more that have the potential to affect millions of Americans.