I’m 72 years old, thinking about tax time and the upcoming election.

President Donald Trump promised to eliminate taxes on your Social Security. He didn’t deliver that. Instead, the One Big Beautiful Bill gave seniors a temporary tax deduction through 2028 — real, but limited, about one-third of what was promised.

Here’s what’s being left out: Your Social Security trust fund is now running out sooner. The government’s own accountants confirmed it. It’s not Democrats saying this — it’s Trump’s own Social Security Administration’s chief actuary. The One Big Beautiful Bill reduces roughly $30 billion per year flowing into the trust fund by cutting the taxes that seniors pay on their benefits.

When that happens, your monthly check gets automatically cut 24% — whether Trump, a Democrat or anyone else is president. That’s roughly $474 less every month. You got a small tax break today. Your future self — and your kids — pay a bigger price tomorrow. Washington gave you a coupon and called it a victory. The piggy bank still needs fixing.

If you’re 70 years old today receiving the average payment of $1,976 a month, here’s your timeline. Right now, you pocket a small tax savings from the new deduction through 2028 — enjoy it. But by 2032, when you turn 77, the trust fund runs dry — a direct result of the One Big Beautiful Bill.

At that point, your monthly check automatically drops to about $1,502 — a loss of $474 every single month. That’s $5,688 less per year, just when you’re older, medical bills are higher and going back to work isn’t an option. The tax break you received over those few years won’t come close to covering what you’ll lose. Washington handed you a dollar and is scheduled to take back five.

Alaska Sen. Dan Sullivan has told me all year how great the One Big Beautiful Bill is — decide for yourself and vote accordingly. I’m voting for Mary Peltola for U.S. Senate.

Paul Southland