President Donald Trump on Friday signed into law his sweeping tax cut and spending package, what he’s called the “big, beautiful bill,” in a Fourth of July ceremony packaged with patriotic pomp and symbolism.

President Trump is expected to sign the so-called "big, beautiful bill" in a ceremony on Friday at the White House to coincide with the July 4 holiday.It comes after the House approved the measure on Thursday.

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: