The newly passed legislation awaits Trump's signature in a White House ceremony on Friday following a 218-214 vote in the House.

President Trump repeatedly stated that he wanted to end Social Security benefit taxes, but that's not what the OBBB does. Instead, it adds a new $6,000 tax deduction for seniors ($12,000 for married couples) that they can claim on top of the standard deduction and existing senior deduction. Here's a closer look at how this adds up:

Donald Trump wants to sign his 'big beautiful' tax and spending bill into law July 4. Here's where it stands as it heads to his desk.