Seniors will benefit from a new tax break in 2026, thanks to the One Big Beautiful Bill Act. Those 65 and older can enjoy a $6,000 increase to the standard deduction, potentially saving a married couple $12,000. Single filers can deduct $23,750, and joint filers $46,700, through 2028.

While the tax break seems positive, the Center for Retirement Research warns of its impact on Social Security benefits. The new provision in the OBBBA will deplete the trust fund six months earlier, moving the depletion date from the 3rd to the 1st quarter of 2034.

The OBBBA tax break may reduce taxes for many filers age 65+, affecting Social Security funding. With less tax revenue coming in from retirees, the program’s already tenuous fiscal condition worsens. Lawmakers may face challenges preventing future benefit cuts.

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Read more at Yahoo Finance: Trump Administrations New Tax Rule Puts Social Security at Risk