A new tax law, referred to as the Trump megabill, is expected to change Americans' taxes, with effects potentially felt as soon as next year. The impact of the law appears to vary, with some outlets suggesting it will benefit certain groups, such as most taxpayers, while others indicate it may disproportionately favor the rich or harm low-income individuals and young Americans. The specifics of how the law will affect different groups, including those receiving social security, are still being examined.