The One Big Beautiful Bill is a massive proposed tax and spending package loaded with initiatives that align with Trump’s agenda. As it’s currently written, the bill includes major changes to Medicaid, food stamps, border security, taxes and more that have the potential to affect millions of Americans.

In 1983, with Social Security's asset reserves virtually exhausted, a bipartisan Congress passed, and then-President Ronald Reagan signed, the Social Security Amendments of 1983 into law. This amendment gradually increased the full retirement age and payroll taxation on working Americans, as well as introduced the utterly despised tax on benefits.