Senate Passes Tax Rebates Proposed by Buchanan for Seniors

Press Release

Senate Passes Tax Rebates Proposed by Buchanan for Seniors

Congressman Vern Buchanan (R-FL 13) praised the Senate today for passing tax rebates he proposed for low income seniors. The House tonight is expected to pass the final economic growth bill, which now includes 21.5 million low-income seniors and 250,00 disabled veterans among those who will receive a tax rebate.

"Most everybody is feeling the effect of the sluggish economy," said Buchanan, "Including our low-income seniors and veterans living on a fixed income. This bill is an improvement. It will provide much broader relief and encourage investment in the economy. "

Buchanan sponsored the "Immediate Financial Assistance for America's Seniors Act" (H.R. 5172) to add millions of senior citizens living primarily on Social Security to the categories of taxpayers who would benefit from the economic growth bill. Like the Senate bill, Buchanan's legislation provides seniors with annual incomes of less than $3,000 a tax rebate of $300. A married couple filing jointly would get back $600. The Congressman had also written to House leaders urging them to include much-needed relief for Florida seniors in the House bill.

The "Recovery Rebates and Economic Stimulus for the American People Act" (H.R. 5140), which passed the Senate 81-16 also includes small business deductions proposed by the Florida lawmaker to strengthen small businesses, which create jobs.

"A free market system always has its ups and downs, but there are times when a small assist by the federal government can accelerate a recovery and get our economy back on track," said Buchanan. "This is one of those times."

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