Democratic Senators Introduce SAVE Benefits Act

In the wakesavebenefits of the zero COLA adjustment for social security recipients, democratic senators including presidential candidate Bernie Sanders have introduced a bill called the SAVE Benefits Act. ┬áThis act proposes to give millions of seniors and veterans an “emergency payment” equivalent to 3.9% of average annual social security benefits- which is the about the same percentage rate as top executive raises.

The senators suggest closing the tax loophole allowing corporations to pay top CEOs bonuses categorized as “performance pay” as tax write offs. ┬áThis emergency payment would assist many seniors enrolling in Medicare next year in paying the higher premiums and deductibles.

Posted in Industry News, Legislative News