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

President Donald Trump's "big, beautiful bill" has passed the House of Representatives in a major win for the White House. Here's what's in it and what happens next

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: