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.)

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.

President Donald Trump's newly signed One Big Beautiful Bill is facing strong public backlash, with new polling showing that his approval rating for the sweeping measure has dropped underwater just days after he signed it into law.