President Donald Trump’s "One Big Beautiful Bill Act" is now law. So when does it take effect? Here's a look at when its provisions start.

Despite claims from President Trump and the Social Security Administration, the bill does not put an end to taxes on Social Security benefits.

What the bill does do is provide a temporary tax deduction of up to $6,000 for seniors aged 65 and older. The tax break is available to people with an adjusted gross incomes of $75,000 or less and $150,000 or less for couples filing jointly. The deduction is set to expire at the end of 2028.