This deduction would likely benefit people who earn modest incomes. The lowest-earning seniors already pay no federal income taxes, so they wouldn’t benefit. The highest earners make too much to qualify.

Tech titan Musk told the BBC's US partner CBS News he was "disappointed" by the plan, which he felt "undermines" the work he did for the president on reducing spending. Musk was enlisted as Trump's cost-cutting tsar - ending funds for US foreign aid among other projects - before announcing he would step back.