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GOBankingRates

Kerra Bolton

Trump’s Budget: What It Means for Your Retirement, by Age

Social Security Donald Trump Medicare GOBankingRates Social Security Administration

Andrii Zastrozhnov / Getty Images/iStockphoto

No matter your age, President Donald Trump’s budget is already reshaping retirement.

The One Big, Beautiful Bill Act (OBBBA), signed in July 2025, introduced new tax breaks for seniors, accelerated Social Security’s trust fund exhaustion and changed how the Social Security Administration verifies identity.

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