During his campaign, Trump promised to eliminate federal taxes on Social Security benefits. While that measure was cut from the final bill, the majority of seniors are still set to receive a tax break.

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.)

The budget includes a deduction for taxpayers over age 65, starting in 2025. But it would benefit fewer than half of older adults, the Tax Policy Center estimates.