Seniors are unlikely to get a break on paying taxes on their Social Security benefits, an issue that impacts more people each year.

After returning to the White House, Donald Trump has reiterated his promise to eliminate taxes on Social Security benefits. However, the current plan offers retirees only a fraction of the financial relief initially promised.

President Trump's spending and tax plan, which is officially titled "one, big, beautiful bill," was recently released. This gave Americans key details about how Trump plans to not only extend the tax cuts passed during his first term but to give middle-class Americans and seniors additional tax relief.

During the marathon Ways and Means Committee meeting scrutinizing the new Republican tax bill, Rep. John Larson (D-Conn.) asked Joint Committee on Taxation Chief of Staff Thomas Barthold about key details,

House Republicans have included a proposal in their tax bill to provide a $4,000 deduction for individuals ages 65 and up. Here’s what it may mean for retirees.

Experts agree that fully removing taxes on benefits would be far more costly. Garrett Watson, director of policy at the Tax Foundation, told CNBC that the senior bonus would cost about $200 billion over 10 years if made permanent, compared to over $1 trillion for eliminating benefit taxes.

Trump has said for months that he wanted to end the federal income tax on Social Security benefits. About 6.3 million Californians receive Social Security benefits.