The proposed Economic Stimulus Plan includes $300 billion in tax cuts. What can this mean for individual seniors?
- Anyone earning less than $75,000/year gets a $400 tax cut (to a limit of $800/household).
- Anyone receiving Social Security (including the disabled, older veterans and Supplemental Security Income beneficiaries) qualifies to receive a one-time $250 payment.
- Anyone who qualifies as ‘working poor’ will receive an expanded earned income