The deduction, for those who qualify, is $6,000 per person. It's set to expire in 2028, at which point the percentage of seniors escaping this tax would presumably go back to around 64%.

Betting on sports has gone from the back rooms to appearing seemingly everywhere on your television and computer screen.

"The legislation that passed does make it so some people won't pay taxes on their benefits," says Marc Goldwein, senior vice president at the nonpartisan Committee for a Responsible Federal Budget.