The Stimulus Plan: Proposed Tax Cuts

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

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