The recently enacted 'One Big Beautiful Bill' has sparked confusion regarding its effects on Social Security taxation. While an email from the Social Security Administration suggested widespread elimination of federal taxes on benefits, experts clarify that the legislation primarily introduces a new tax deduction for seniors, leading to reduced tax burdens for some, particularly those in middle to upper-middle income brackets. The bill does not alter the fundamental taxation of Social Security benefits and has implications for the program's long-term financial health.